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

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value 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 transaction of $3,068,400.00.

Penumbra Price Performance

PEN stock traded down $1.99 during trading on Monday, reaching $240.55. The company’s stock had a trading volume of 213,405 shares, compared to its average volume of 377,591. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average is $232.15 and its 200-day moving average is $203.76. The company has a market capitalization of $9.23 billion, a P/E ratio of 279.71, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PEN shares. Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Robert W. Baird lifted their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $275.00 in a research report on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.00.

Institutional Investors Weigh In On Penumbra

Several institutional investors and hedge funds have recently modified their holdings of PEN. FMR LLC lifted its position in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after purchasing an additional 264,122 shares during the period. State Street Corp raised its stake in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares during the period. RTW Investments LP boosted its position in shares of Penumbra by 7.2% during the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after buying an additional 53,645 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares during 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.