Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 15,910 Shares

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 15,910 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $253.67, for a total transaction of $4,035,889.70. Following the completion of the transaction, the chief executive officer now owns 110,355 shares in the company, valued at $27,993,752.85. The trade was a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 stock was sold at an average price of $298.22, for a total transaction 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 value 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 value of $4,543,236.00.
• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The stock was sold at an average price of $272.24, for a total transaction of $4,509,655.60.
• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00.

Penumbra Stock Performance

Penumbra stock traded up $4.13 on Monday, reaching $260.63. 874,400 shares of the stock were exchanged, compared to its average volume of 451,117. The stock has a market cap of $10.09 billion, a PE ratio of 766.55, a PEG ratio of 2.83 and a beta of 0.49. The firm has a fifty day moving average price of $275.71 and a two-hundred day moving average price of $267.43. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Institutional Trading of Penumbra

Institutional investors have recently bought and sold shares of the business. Synergy Investment Management LLC bought a new position in Penumbra in the first quarter valued at approximately $27,000. First Horizon Advisors Inc. boosted its holdings in shares of Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after buying an additional 85 shares during the period. Hurley Capital LLC bought a new position in Penumbra during the 4th quarter worth $56,000. AlphaQuest LLC acquired a new stake in shares of Penumbra in the first quarter valued at approximately $66,000. Finally, Huntington National Bank lifted its position in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler reissued an "overweight" rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Morgan Stanley lifted their price target on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their target price on Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Truist Financial upped 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. Finally, Canaccord Genuity Group boosted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $302.40.

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.