Adam Elsesser Sells 15,000 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the sale, the chief executive officer now directly owns 852,582 shares in the company, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Adam Elsesser also recently made the following trade(s):

• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00.
• On Friday, September 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00.

Penumbra Stock Up 1.9 %

Shares of NYSE PEN traded up $4.46 during trading on Friday, hitting $244.95. 251,997 shares of the company traded hands, compared to its average volume of 381,274. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The business’s fifty day moving average is $211.55 and its 200 day moving average is $197.25. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 284.83, a P/E/G ratio of 2.40 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the previous year, the business posted $0.67 EPS. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Penumbra, Inc. will post 2.79 earnings per share for the current fiscal year.

Penumbra announced that its board has approved a stock buyback plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus started coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. Wells Fargo & Company cut shares of Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $289.00 to $150.00 in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Piper Sandler upped their price target on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Leerink Partners started coverage on Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective for the company. Five investment 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 company. Based on data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.92.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in Penumbra in the third quarter worth $26,000. GAMMA Investing LLC increased its holdings in shares of Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the period. WASHINGTON TRUST Co bought a new stake in Penumbra during the second quarter valued at $54,000. Park Place Capital Corp raised its holdings in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 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.