Harpreet Grewal Sells 186 Shares of Penumbra (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $248.61, for a total transaction of $46,241.46. Following the transaction, the director directly owned 8,702 shares of the company’s stock, valued at $2,163,404.22. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Harpreet Grewal also recently made the following trade(s):

• On Tuesday, September 2nd, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $272.19, for a total transaction of $50,627.34.

Penumbra Stock Up 1.0%

NYSE:PEN opened at $256.05 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The company’s fifty day moving average price is $257.64 and its 200-day moving average price is $262.85. Penumbra, Inc. has a 1-year low of $190.08 and a 1-year high of $310.00. The firm has a market capitalization of $9.99 billion, a P/E ratio of 68.10, a PEG ratio of 2.31 and a beta of 0.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Penumbra by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after acquiring an additional 185,306 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Penumbra by 2.6% in the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after purchasing an additional 17,772 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Penumbra by 437.0% in the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after purchasing an additional 572,606 shares during the period. Invesco Ltd. grew its holdings in shares of Penumbra by 1,139.3% in the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after purchasing an additional 582,369 shares in the last quarter. Finally, Norges Bank purchased a new stake in Penumbra during the 2nd quarter worth approximately $114,014,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

PEN has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $290.00 price objective on Penumbra in a report on Wednesday. Morgan Stanley boosted their price objective on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $302.93.

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.