Penumbra, Inc. (NYSE:PEN) CFO Sells $500,000.00 in Stock

Key Points

• Maggie Yuen, CFO of Penumbra, Inc., sold 2,000 shares of the company's stock for a total value of $500,000, resulting in a 13.38% decrease in her holdings.
• Penumbra reported quarterly earnings of $0.86 per share, surpassing analyst expectations of $0.81, with revenues increasing by 13.4% year-over-year.
• Analyst ratings for Penumbra vary, with a consensus of "Moderate Buy" and a target price averaging $300.47 among analysts following the stock.

Penumbra, Inc. (NYSE:PEN - Get Free Report) CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the transaction, the chief financial officer owned 12,943 shares in the company, valued at approximately $3,235,750. This represents a 13.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Penumbra Price Performance

PEN traded up $2.33 during trading on Monday, reaching $255.35. The stock had a trading volume of 336,982 shares, compared to its average volume of 496,698. Penumbra, Inc. has a 1-year low of $184.80 and a 1-year high of $310.00. The stock has a 50 day moving average of $246.02 and a two-hundred day moving average of $265.48. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 67.91, a price-to-earnings-growth ratio of 2.28 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 (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 analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Institutional Trading of Penumbra

Hedge funds have recently modified their holdings of the business. Synergy Investment Management LLC bought a new position in Penumbra during the first quarter valued at about $27,000. First Horizon Advisors Inc. raised its holdings in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock valued at $41,000 after buying an additional 66 shares in the last quarter. AlphaQuest LLC bought a new position in Penumbra during the first quarter valued at about $66,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock valued at $70,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on PEN shares. UBS Group set a $335.00 price target on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. William Blair upgraded Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. BTIG Research reiterated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Four equities research 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's stock. According to MarketBeat.com, Penumbra presently has an average 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.