Adam Elsesser Sells 15,890 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 15,890 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $253.40, for a total value of $4,026,526.00. Following the transaction, the chief executive officer now directly owns 122,441 shares in the company, valued at approximately $31,026,549.40. This represents a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, June 11th, Adam Elsesser sold 15,910 shares of Penumbra stock. The shares were sold at an average price of $253.67, for a total value of $4,035,889.70.
• On Wednesday, May 28th, Adam Elsesser sold 16,300 shares of Penumbra stock. The stock was sold at an average price of $267.91, for a total value of $4,366,933.00.
• On Wednesday, May 14th, Adam Elsesser sold 16,600 shares of Penumbra stock. The stock was sold at an average price of $298.22, for a total value of $4,950,452.00.
• On Wednesday, May 7th, Adam Elsesser sold 16,650 shares of Penumbra stock. The stock was sold at an average price of $289.37, for a total transaction of $4,818,010.50.
• On Wednesday, April 16th, Adam Elsesser sold 16,560 shares of Penumbra stock. The shares were sold at an average price of $274.35, for a total transaction of $4,543,236.00.
• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The shares were sold at an average price of $272.24, for a total value of $4,509,655.60.

Penumbra Price Performance

Shares of PEN stock traded up $2.53 during mid-day trading on Friday, hitting $256.11. 512,698 shares of the stock were exchanged, compared to its average volume of 453,093. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.92 billion, a PE ratio of 77.08, a price-to-earnings-growth ratio of 2.26 and a beta of 0.49. The firm has a fifty day moving average of $272.86 and a 200 day moving average of $267.88.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. Research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

PEN has been the topic of a number of recent research reports. Robert W. Baird increased their price target on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Bank of America assumed coverage on shares of Penumbra in a research note on Friday, March 14th. They set a "buy" rating and a $320.00 price objective on the stock. Wall Street Zen raised Penumbra from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Finally, Truist Financial lifted their price target on Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Institutional Trading of Penumbra

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of Penumbra by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 294,620 shares of the company's stock worth $69,966,000 after purchasing an additional 1,823 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Penumbra by 211.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 30,582 shares of the company's stock valued at $7,263,000 after buying an additional 20,756 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Penumbra during the fourth quarter worth about $3,553,000. QRG Capital Management Inc. lifted its holdings in shares of Penumbra by 4.8% in the 4th quarter. QRG Capital Management Inc. now owns 1,584 shares of the company's stock worth $376,000 after acquiring an additional 72 shares during the last quarter. Finally, Norden Group LLC boosted its position in shares of Penumbra by 2.6% during the 4th quarter. Norden Group LLC now owns 5,338 shares of the company's stock worth $1,268,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

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.

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