Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells 16,560 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,560 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $274.35, for a total value of $4,543,236.00. Following the completion of the transaction, the chief executive officer now owns 63,911 shares in the company, valued at approximately $17,533,982.85. This trade represents a 20.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The shares were sold at an average price of $272.24, for a total value of $4,509,655.60.
• 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 shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00.

Penumbra Price Performance

NYSE PEN opened at $276.62 on Friday. The firm has a market capitalization of $10.70 billion, a PE ratio of 813.60, a P/E/G ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company’s 50 day simple moving average is $275.47 and its 200 day simple moving average is $251.66.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently made changes to their positions in PEN. QRG Capital Management Inc. boosted its holdings in Penumbra by 14.1% during the first quarter. QRG Capital Management Inc. now owns 1,808 shares of the company’s stock worth $483,000 after buying an additional 224 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Penumbra by 58.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 5,891 shares of the company’s stock worth $1,575,000 after acquiring an additional 2,172 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Penumbra by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,251 shares of the company’s stock worth $869,000 after acquiring an additional 136 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Penumbra by 16.4% during the first quarter. Fifth Third Bancorp now owns 404 shares of the company’s stock worth $108,000 after purchasing an additional 57 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Penumbra by 143.5% during the first quarter. SG Americas Securities LLC now owns 9,332 shares of the company’s stock valued at $2,495,000 after purchasing an additional 5,499 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEN. JPMorgan Chase & Co. boosted their price objective on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Truist Financial dropped their target price on shares of Penumbra from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, UBS Group lifted their price target on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $293.93.

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.