Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells $17,469,144.00 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 61,600 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the transaction, the chief executive officer now owns 16,376 shares in the company, valued at $4,644,069.84. The trade was a 79.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, December 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00.

Penumbra Price Performance

Penumbra stock opened at $275.07 on Monday. 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 company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 809.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company’s 50 day simple moving average is $267.39 and its 200-day simple moving average is $235.72. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings results 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 analysts’ expectations of $311.63 million. As a group, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEN. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target on the stock. Royal Bank of Canada boosted their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Canaccord Genuity Group increased their price target on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their target price on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.64.

Hedge Funds Weigh In On Penumbra

A number of hedge funds and other institutional investors have recently bought and sold shares of PEN. Employees Retirement System of Texas increased its stake in Penumbra by 31.9% during the fourth quarter. Employees Retirement System of Texas now owns 5,273 shares of the company’s stock worth $1,252,000 after purchasing an additional 1,274 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Penumbra during the 4th quarter worth approximately $760,000. Polar Asset Management Partners Inc. increased its stake in Penumbra by 10.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 122,126 shares of the company’s stock worth $29,002,000 after buying an additional 11,605 shares during the period. Cache Advisors LLC purchased a new position in Penumbra in the 4th quarter valued at approximately $534,000. Finally, Public Employees Retirement System of Ohio boosted its position in Penumbra by 6.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock valued at $5,319,000 after buying an additional 1,316 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Company Profile

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.