Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 15,000 Shares

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares of the company's stock, valued at approximately $189,440,130.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Penumbra Price Performance

Penumbra stock traded down $1.26 during mid-day trading on Wednesday, hitting $198.97. 170,696 shares of the company traded hands, compared to its average volume of 341,802. The stock has a fifty day moving average price of $213.92 and a 200-day moving average price of $232.58. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 84.49, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. Penumbra, Inc. has a one year low of $180.93 and a one year high of $348.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The firm had revenue of $278.70 million during the quarter, compared to the consensus estimate of $274.94 million. During the same period in the prior year, the company earned $0.23 EPS. The firm's revenue was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Penumbra, Inc. will post 2.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Penumbra from $284.00 to $272.00 and set a "buy" rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $289.00 price target on shares of Penumbra in a research report on Friday, February 23rd. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a report on Wednesday, May 8th. Piper Sandler dropped their price objective on shares of Penumbra from $290.00 to $260.00 and set an "overweight" rating on the stock in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut shares of Penumbra from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $300.64.

Institutional Trading of Penumbra

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company's stock valued at $823,681,000 after purchasing an additional 32,557 shares during the period. Champlain Investment Partners LLC grew its holdings in Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company's stock worth $242,060,000 after acquiring an additional 616,700 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Penumbra by 12.2% in the first quarter. William Blair Investment Management LLC now owns 833,703 shares of the company's stock valued at $186,066,000 after acquiring an additional 90,444 shares during the period. Invesco Ltd. boosted its holdings in shares of Penumbra by 6.4% during the third quarter. Invesco Ltd. now owns 551,923 shares of the company's stock worth $133,516,000 after purchasing an additional 33,107 shares during the period. Finally, Rock Springs Capital Management LP boosted its holdings in shares of Penumbra by 37.6% during the third quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company's stock worth $121,862,000 after purchasing an additional 137,750 shares during the period. Institutional investors own 88.88% of the company's stock.

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.