Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells $40,293.76 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Penumbra Trading Up 2.3 %

Shares of PEN stock opened at $257.94 on Thursday. The stock has a 50 day simple moving average of $241.17 and a 200 day simple moving average of $208.76. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.90 billion, a P/E ratio of 299.93, a price-to-earnings-growth ratio of 2.47 and a beta of 0.52.

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 company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same period in the prior year, the firm posted $0.67 EPS. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Penumbra

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Penumbra by 2.1% during the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after acquiring an additional 121,465 shares during the period. Champlain Investment Partners LLC lifted its stake in Penumbra by 20.6% during the third 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 last quarter. State Street Corp boosted its holdings in shares of Penumbra by 0.3% in the 3rd 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 in the last quarter. RTW Investments LP boosted its holdings in shares of Penumbra by 7.2% in the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after purchasing an additional 53,645 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PEN shares. Canaccord Genuity Group boosted their price target on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird increased their price target on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus started coverage on Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target for the company. Truist Financial upped their price objective on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Four equities research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $258.00.

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.