Penumbra (NYSE:PEN) Director Sells $58,151.04 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total value of $58,151.04. Following the completion of the transaction, the director owned 8,230 shares in the company, valued at approximately $2,573,027.20. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Harpreet Grewal also recently made the following trade(s):

• On Tuesday, December 2nd, Harpreet Grewal sold 100 shares of Penumbra stock. The shares were sold at an average price of $292.98, for a total value of $29,298.00.
• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $227.58, for a total value of $42,329.88.
• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $227.58, for a total value of $42,329.88.

Penumbra Price Performance

Shares of Penumbra stock traded down $0.68 on Thursday, hitting $315.47. The company had a trading volume of 491,162 shares, compared to its average volume of 392,250. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $321.38. The company has a market cap of $12.35 billion, a PE ratio of 75.47, a PEG ratio of 1.93 and a beta of 0.71. The business has a 50-day simple moving average of $293.26 and a 200-day simple moving average of $266.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.07. The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. Research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Penumbra from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Needham & Company LLC upped their price target on Penumbra from $326.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Bank of America increased their price target on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird set a $345.00 target price on shares of Penumbra in a research report on Tuesday, December 16th. Finally, Truist Financial raised their price target on Penumbra from $312.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $340.40.

Hedge Funds Weigh In On Penumbra

Several hedge funds and other institutional investors have recently made changes to their positions in PEN. Invesco Ltd. lifted its stake in Penumbra by 1,139.3% in the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after purchasing an additional 582,369 shares during the last quarter. Norges Bank acquired a new position in Penumbra in the second quarter valued at approximately $114,014,000. Holocene Advisors LP acquired a new stake in Penumbra in the third quarter worth $78,585,000. Qube Research & Technologies Ltd acquired a new position in Penumbra during the 2nd quarter worth approximately $53,818,000. Finally, Man Group plc grew its position in Penumbra by 1,862.2% in the 2nd quarter. Man Group plc now owns 206,461 shares of the company’s stock valued at $52,984,000 after purchasing an additional 195,939 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.