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

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total value of $42,329.88. Following the completion of the transaction, the director directly owned 8,516 shares of the company’s stock, valued at $1,938,071.28. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $227.58, for a total value of $42,329.88.
• On Thursday, October 2nd, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $248.61, for a total value of $46,241.46.
• 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 value of $50,627.34.

Penumbra Stock Performance

Shares of PEN stock traded up $38.93 during trading hours on Thursday, hitting $264.47. The stock had a trading volume of 1,111,213 shares, compared to its average volume of 480,597. The firm has a market capitalization of $10.31 billion, a PE ratio of 70.34, a PEG ratio of 2.10 and a beta of 0.51. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $310.00. The stock’s 50 day moving average is $256.08 and its 200 day moving average is $258.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. The business had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEN. Invesco Ltd. increased its position 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 buying an additional 582,369 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 buying an additional 572,606 shares in the last quarter. Norges Bank purchased a new position in shares of Penumbra in the second quarter valued at $114,014,000. Lord Abbett & CO. LLC purchased a new position in shares of Penumbra in the first quarter valued at $63,731,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Penumbra in the second quarter valued at $53,818,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PEN shares. Canaccord Genuity Group increased their price target on Penumbra from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup decreased their price target on Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Wells Fargo & Company set a $290.00 price target on Penumbra in a report on Wednesday, October 1st. Finally, William Blair raised Penumbra to a “strong-buy” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.69.

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.