Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells 16,600 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,600 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $276.21, for a total value of $4,585,086.00. Following the completion of the transaction, the chief executive officer now directly owns 27,752 shares in the company, valued at $7,665,379.92. This trade represents a 37.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Stock Performance

NYSE PEN opened at $280.93 on Friday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The business’s 50-day moving average price is $272.70 and its 200 day moving average price is $240.05. The firm has a market cap of $10.82 billion, a P/E ratio of 826.25, a P/E/G ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on PEN shares. Oppenheimer started coverage on Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. StockNews.com lowered Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, BTIG Research raised their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Institutional Investors Weigh In On Penumbra

A number of hedge funds have recently added to or reduced their stakes in PEN. Janus Henderson Group PLC lifted its position in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares during the period. Champlain Investment Partners LLC lifted its position in Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares during the period. Norges Bank acquired a new stake in Penumbra in the fourth quarter valued at about $54,396,000. T. Rowe Price Investment Management Inc. lifted its position in Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock valued at $167,913,000 after purchasing an additional 227,506 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Penumbra in the third quarter valued at about $31,965,000. Institutional investors and hedge funds 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.