Adam Elsesser Sells 16,600 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,600 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00. Following the completion of the transaction, the chief executive officer now owns 27,752 shares of the company’s stock, valued at approximately $7,665,379.92. This represents a 37.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Adam Elsesser also recently made the following trade(s):

• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Stock Down 0.1 %

Penumbra stock traded down $0.40 during mid-day trading on Friday, reaching $280.93. 737,365 shares of the company were exchanged, compared to its average volume of 397,452. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The business has a fifty day moving average of $272.70 and a 200 day moving average of $240.05. The firm has a market cap of $10.82 billion, a P/E ratio of 826.25, a PEG ratio of 2.83 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEN shares. Royal Bank of Canada lifted their price objective on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in Penumbra by 2.1% during the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after acquiring an additional 121,465 shares during the period. Champlain Investment Partners LLC lifted its position in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares during the period. State Street Corp lifted its position in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after purchasing an additional 3,863 shares during the period. RTW Investments LP boosted its holdings in Penumbra by 8.4% in the fourth quarter. RTW Investments LP now owns 862,450 shares of the company’s stock valued at $204,815,000 after purchasing an additional 66,700 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after purchasing an additional 138,387 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.