Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 12,000 Shares of Stock

Penumbra, Inc. (NYSE:PEN) Director Arani Bose sold 12,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the sale, the director now directly owns 314,819 shares of the company’s stock, valued at $89,336,187.63. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Penumbra Trading Down 2.3 %

Penumbra stock traded down $6.27 during trading on Thursday, hitting $268.89. The company had a trading volume of 471,343 shares, compared to its average volume of 395,245. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $274.49 and its 200-day simple moving average is $242.13. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 790.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

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

Institutional Investors Weigh In On Penumbra

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares during the period. Norges Bank purchased a new stake in shares of Penumbra during the fourth quarter worth approximately $54,396,000. T. Rowe Price Investment Management Inc. raised its holdings 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 acquiring an additional 227,506 shares in the last quarter. Braidwell LP grew its holdings in Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after acquiring an additional 148,834 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after buying an additional 138,387 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEN. Wells Fargo & Company upped their price objective on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. UBS Group boosted their price objective on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Truist Financial raised their target price on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

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.