Adam Elsesser Sells 15,985 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 15,985 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $243.75, for a total value of $3,896,343.75. Following the completion of the sale, the chief executive officer directly owned 134,432 shares in the company, valued at approximately $32,767,800. This represents a 10.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 25th, Adam Elsesser sold 15,890 shares of Penumbra stock. The shares were sold at an average price of $253.40, for a total value of $4,026,526.00.
• On Wednesday, June 11th, Adam Elsesser sold 15,910 shares of Penumbra stock. The shares were sold at an average price of $253.67, for a total value of $4,035,889.70.
• 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 value of $4,366,933.00.
• On Wednesday, May 14th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $298.22, for a total value of $4,950,452.00.
• On Wednesday, May 7th, Adam Elsesser sold 16,650 shares of Penumbra stock. The shares were 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.

Penumbra Stock Down 2.7%

Shares of PEN traded down $6.50 during trading hours on Friday, hitting $237.37. The stock had a trading volume of 377,311 shares, compared to its average volume of 454,864. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. The firm has a 50 day simple moving average of $264.08 and a 200-day simple moving average of $268.35. The firm has a market capitalization of $9.19 billion, a P/E ratio of 223.93, a price-to-earnings-growth ratio of 2.12 and a beta of 0.47. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. Sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Institutional Trading of Penumbra

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Penumbra by 437.0% in the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock valued at $188,159,000 after acquiring an additional 572,606 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Penumbra during the 1st quarter worth approximately $63,731,000. Norges Bank bought a new position in shares of Penumbra during the 4th quarter worth approximately $54,396,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Penumbra by 47.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after buying an additional 227,506 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Penumbra by 42,409.9% during the 1st quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock worth $50,699,000 after buying an additional 189,148 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Robert W. Baird raised their target price on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Wall Street Zen raised Penumbra from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Finally, 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. Three investment 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, Penumbra presently has an average rating of "Moderate Buy" and a consensus price target of $305.07.

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.