Penumbra, Inc. (NYSE:PEN) Director Sells $31,677.78 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total transaction of $31,677.78. Following the completion of the transaction, the director now directly owns 8,697 shares in the company, valued at $1,659,648.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, September 4th, Harpreet Grewal sold 782 shares of Penumbra stock. The stock was sold at an average price of $204.11, for a total value of $159,614.02.

Penumbra Trading Down 0.1 %

Shares of PEN stock opened at $194.73 on Friday. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 82.16, a P/E/G ratio of 2.18 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The firm has a fifty day moving average of $190.58 and a 200-day moving average of $195.77.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million for 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%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, equities research analysts forecast that Penumbra, Inc. will post 2.59 earnings per share for the current fiscal year.

Penumbra announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEN. Royal Bank of Canada cut their price target on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Citigroup raised their price target on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird lowered their price target on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Institutional Investors Weigh In On Penumbra

A number of hedge funds have recently added to or reduced their stakes in PEN. Allianz Asset Management GmbH raised its stake in shares of Penumbra by 9.7% during the fourth quarter. Allianz Asset Management GmbH now owns 7,182 shares of the company’s stock worth $1,807,000 after buying an additional 637 shares during the last quarter. KBC Group NV acquired a new position in shares of Penumbra in the fourth quarter valued at approximately $175,000. The Manufacturers Life Insurance Company grew its position in Penumbra by 8.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 99,881 shares of the company’s stock valued at $25,124,000 after purchasing an additional 8,029 shares in the last quarter. Azimuth Capital Investment Management LLC grew its holdings in shares of Penumbra by 22.3% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 66,201 shares of the company’s stock valued at $16,652,000 after acquiring an additional 12,088 shares in the last quarter. Finally, Braidwell LP grew its stake in Penumbra by 133.7% in the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after purchasing an additional 127,477 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

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.