Adam Elsesser Sells 16,030 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Key Points

• Adam Elsesser, CEO of Penumbra, Inc., sold 16,030 shares of the company's stock for approximately $3.8 million, reducing his ownership stake by 9.20% to 158,204 shares.
• Despite recent insider selling, Penumbra's stock increased by 0.1%, reaching $240.93 during midday trading, with a market capitalization of $9.4 billion.
• Penumbra reported a 13.4% year-over-year revenue growth for the latest quarter, achieving an EPS of $0.86, which surpassed analysts' expectations.

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 16,030 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $238.20, for a total transaction of $3,818,346.00. Following the completion of the transaction, the chief executive officer directly owned 158,204 shares of the company's stock, valued at approximately $37,684,192.80. The trade was a 9.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, July 23rd, Adam Elsesser sold 16,150 shares of Penumbra stock. The shares were sold at an average price of $233.16, for a total transaction of $3,765,534.00.
• On Wednesday, July 9th, Adam Elsesser sold 15,985 shares of Penumbra stock. The stock was sold at an average price of $243.75, for a total transaction of $3,896,343.75.
• On Wednesday, June 25th, Adam Elsesser sold 15,890 shares of Penumbra stock. The stock was sold at an average price of $253.40, for a total transaction of $4,026,526.00.
• On Wednesday, June 11th, Adam Elsesser sold 15,910 shares of Penumbra stock. The stock was sold at an average price of $253.67, for a total transaction of $4,035,889.70.
• On Wednesday, May 28th, Adam Elsesser sold 16,300 shares of Penumbra stock. The shares were sold at an average price of $267.91, for a total transaction of $4,366,933.00.
• On Wednesday, May 14th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $298.22, for a total transaction of $4,950,452.00.

Penumbra Stock Up 0.1%

Shares of NYSE:PEN traded up $0.19 during midday trading on Friday, reaching $240.93. The company's stock had a trading volume of 280,040 shares, compared to its average volume of 535,241. The firm has a 50 day moving average of $246.70 and a 200-day moving average of $266.40. The firm has a market capitalization of $9.40 billion, a P/E ratio of 68.59, a PEG ratio of 2.17 and a beta of 0.40. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $166.64 and a 12-month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same period in the prior year, the firm posted $0.64 EPS. Penumbra's revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Institutional Trading of Penumbra

Several institutional investors have recently bought and sold shares of PEN. Quadrant Capital Group LLC lifted its stake in shares of Penumbra by 6.6% in the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock worth $150,000 after purchasing an additional 39 shares during the period. GAMMA Investing LLC raised its stake in Penumbra by 7.3% during the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company's stock worth $195,000 after acquiring an additional 52 shares during the period. Baker Avenue Asset Management LP raised its stake in Penumbra by 1.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company's stock worth $791,000 after acquiring an additional 53 shares during the period. Fifth Third Bancorp raised its stake in Penumbra by 16.4% during the 1st quarter. Fifth Third Bancorp now owns 404 shares of the company's stock worth $108,000 after acquiring an additional 57 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock worth $41,000 after acquiring an additional 66 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEN. Citigroup reduced their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. UBS Group set a $335.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Robert W. Baird boosted their price target on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $300.47.

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.

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