Adam Elsesser Sells 16,600 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,600 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the completion of the transaction, the chief executive officer now directly owns 27,752 shares of the company’s stock, valued at approximately $7,665,379.92. The trade was a 37.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Price Performance

NYSE:PEN opened at $280.93 on Friday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 826.25, a P/E/G ratio of 2.83 and a beta of 0.51. The stock’s 50 day moving average price is $272.70 and its two-hundred day moving average price is $240.30. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating 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 business had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. On average, analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Institutional Trading of Penumbra

A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in 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 acquiring an additional 375,684 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Penumbra by 20.6% during 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 last quarter. Norges Bank bought a new stake in Penumbra in the 4th quarter valued at $54,396,000. T. Rowe Price Investment Management Inc. grew its holdings in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock valued at $167,913,000 after buying an additional 227,506 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Penumbra during the 3rd quarter worth $31,965,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the topic of several research reports. Oppenheimer initiated coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Bank of America began coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

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.