Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal Sells 782 Shares

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 782 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the transaction, the director now directly owns 8,863 shares of the company’s stock, valued at approximately $1,809,026.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Penumbra Stock Up 0.7 %

Shares of PEN stock traded up $1.49 on Thursday, hitting $204.04. The stock had a trading volume of 300,799 shares, compared to its average volume of 383,137. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 85.37, a price-to-earnings-growth ratio of 2.26 and a beta of 0.54. The business has a 50 day moving average of $186.30 and a 200 day moving average of $203.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $302.00.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. Penumbra’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. As a group, analysts expect that Penumbra, Inc. will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC grew its holdings in Penumbra by 3.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock valued at $375,000 after buying an additional 55 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Penumbra by 2.9% during the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after purchasing an additional 62 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of Penumbra by 7.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after buying an additional 74 shares during the period. Finally, M&T Bank Corp grew its stake in Penumbra by 9.4% in the fourth quarter. M&T Bank Corp now owns 1,380 shares of the company’s stock valued at $347,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PEN shares. Robert W. Baird decreased their price target on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley cut their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Leerink Partners assumed coverage on shares of Penumbra in a report on Tuesday. They set an “outperform” rating and a $263.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group decreased their target price on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.27.

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.