Insider Selling: Penumbra, Inc. (NYSE:PEN) CAO Sells $141,722.88 in Stock

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 501 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the sale, the chief accounting officer now owns 32,969 shares in the company, valued at $9,326,270.72. This represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Penumbra Stock Down 0.9 %

Shares of PEN stock opened at $275.07 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company’s fifty day moving average price is $267.39 and its 200-day moving average price is $235.14. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 809.01, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PEN shares. Truist Financial increased their price target on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Oppenheimer started coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Finally, BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Four investment 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 has an average rating of “Moderate Buy” and an average price target of $292.64.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in shares of Penumbra by 6.6% during the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock valued at $150,000 after buying an additional 39 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Penumbra by 1.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock worth $791,000 after purchasing an additional 53 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after purchasing an additional 57 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.