Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 15,000 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, November 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00.
• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00.

Penumbra Stock Performance

NYSE PEN traded down $1.99 on Monday, hitting $240.55. 213,405 shares of the stock traded hands, compared to its average volume of 377,591. The business’s fifty day moving average is $232.15 and its two-hundred day moving average is $203.76. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 279.71, a PEG ratio of 2.47 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 5.82.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Stifel Nicolaus started coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. BTIG Research lifted their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average price target of $258.00.

Institutional Investors Weigh In On Penumbra

Several large investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new stake in Penumbra during the third quarter valued at about $26,000. GAMMA Investing LLC increased its position in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after buying an additional 90 shares during the period. Park Place Capital Corp raised its position in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. 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.