Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells 15,910 Shares of Stock

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

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

• On Wednesday, May 28th, Adam Elsesser sold 16,300 shares of Penumbra stock. The stock was 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 transaction 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 value 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 value of $4,585,086.00.

Penumbra Trading Up 1.1%

Shares of PEN stock traded up $2.90 during mid-day trading on Friday, reaching $256.30. The stock had a trading volume of 367,891 shares, compared to its average volume of 449,417. The firm has a market capitalization of $9.93 billion, a PE ratio of 753.82, a price-to-earnings-growth ratio of 2.83 and a beta of 0.49. The stock's 50-day moving average price is $275.71 and its two-hundred day moving average price is $267.27. 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, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00.

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

Hedge Funds Weigh In On Penumbra

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Penumbra by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock valued at $64,493,000 after purchasing an additional 3,807 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after purchasing an additional 85,284 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Penumbra during the 4th quarter valued at about $3,553,000. HighTower Advisors LLC increased its position in shares of Penumbra by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after buying an additional 188 shares during the period. Finally, Atria Investments Inc bought a new position in Penumbra in the fourth quarter worth about $221,000. Institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEN. Wall Street Zen raised Penumbra from a "buy" rating to a "strong-buy" rating in a report on Saturday. UBS Group reissued a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Truist Financial increased their target price on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently 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.