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

Key Points

• Penumbra, Inc. EVP Johanna Roberts recently sold 600 shares of the company's stock for a total value of $143,364, reducing her ownership by 0.91%, while still holding approximately 65,457 shares.
• The company's stock saw an increase of $9.12 on a recent trading day, reaching a price of $257.67 with a market cap of $10.05 billion.
• Penumbra's latest quarterly earnings report indicated an EPS of $0.86, surpassing estimates and showing a 13.4% year-over-year revenue growth.

Penumbra, Inc. (NYSE:PEN - Get Free Report) EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $238.94, for a total value of $143,364.00. Following the sale, the executive vice president owned 65,457 shares of the company's stock, valued at approximately $15,640,295.58. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, July 1st, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $252.70, for a total value of $151,620.00.
• On Monday, June 2nd, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $258.17, for a total value of $154,902.00.

Penumbra Stock Performance

NYSE PEN traded up $9.12 during trading on Wednesday, hitting $257.67. The company's stock had a trading volume of 582,380 shares, compared to its average volume of 516,493. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $246.26 and a 200 day moving average price of $265.87. The firm has a market cap of $10.05 billion, a P/E ratio of 70.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. Penumbra, Inc. has a 52 week low of $181.13 and a 52 week high of $310.00.

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

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new stake in shares of Penumbra during the first quarter valued at approximately $259,000. GAMMA Investing LLC increased its position in shares of Penumbra by 59.0% during the first quarter. GAMMA Investing LLC now owns 709 shares of the company's stock valued at $190,000 after purchasing an additional 263 shares during the period. Farther Finance Advisors LLC increased its position in shares of Penumbra by 606.3% during the first quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock valued at $121,000 after purchasing an additional 382 shares during the period. Gotham Asset Management LLC bought a new stake in shares of Penumbra during the fourth quarter valued at approximately $275,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Penumbra in the 1st quarter valued at $2,614,000. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEN has been the topic of a number of recent analyst reports. Morgan Stanley raised their price objective on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Wall Street Zen downgraded Penumbra from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group set a $335.00 price objective on Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Citigroup cut their price objective on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $300.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.