Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 167 Shares of Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Penumbra Stock Down 2.4 %

Shares of NYSE:PEN traded down $5.85 during mid-day trading on Monday, hitting $236.12. 1,022,987 shares of the company traded hands, compared to its average volume of 446,218. The stock has a 50-day moving average price of $238.85 and a two-hundred day moving average price of $207.48. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The stock has a market cap of $9.06 billion, a P/E ratio of 274.56, a P/E/G ratio of 2.47 and a beta of 0.52. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data 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. The firm had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. On average, equities research analysts forecast that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group lifted their price target on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.00.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Penumbra during the third quarter valued at approximately $26,000. GAMMA Investing LLC grew its stake in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Park Place Capital Corp increased its position in shares of Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the last quarter. Hedge funds and other 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.