Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 16,565 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,565 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total transaction of $4,509,655.60. Following the sale, the chief executive officer now directly owns 52,495 shares of the company’s stock, valued at $14,291,238.80. This represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $276.21, for a total transaction of $4,585,086.00.
• 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 transaction of $17,469,144.00.

Penumbra Stock Down 4.0 %

Shares of PEN stock opened at $262.37 on Friday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 771.66, 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. The stock’s 50 day simple moving average is $274.48 and its 200 day simple moving average is $245.61. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. As a group, research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEN. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $294.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares during the period. Hurley Capital LLC bought a new position in Penumbra in the fourth quarter worth $56,000. Huntington National Bank boosted its stake in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. increased its holdings in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after buying an additional 208 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Penumbra by 893.5% in the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock valued at $82,000 after buying an additional 277 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

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.