Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 16,300 Shares

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 16,300 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $267.91, for a total value of $4,366,933.00. Following the sale, the chief executive officer now owns 98,289 shares of the company's stock, valued at approximately $26,332,605.99. This trade represents a 14.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 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 transaction of $4,543,236.00.
• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The shares were 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 value of $4,585,086.00.
• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00.

Penumbra Stock Performance

Shares of NYSE:PEN traded down $1.41 during trading on Tuesday, hitting $254.75. 43,157 shares of the stock traded hands, compared to its average volume of 445,697. The company has a fifty day moving average price of $277.80 and a two-hundred day moving average price of $266.60. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 749.26, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly 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. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same period last year, the company posted $0.41 EPS. Penumbra's quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

PEN has been the subject of several recent analyst reports. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the company a "buy" rating in a research report on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Canaccord Genuity Group lifted their price objective on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Hedge Funds Weigh In On Penumbra

Several hedge funds and other institutional investors have recently modified their holdings of PEN. Synergy Investment Management LLC purchased a new position in Penumbra during the first quarter worth approximately $27,000. First Horizon Advisors Inc. raised its position in shares of Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares during the period. Hurley Capital LLC purchased a new stake in shares of Penumbra during the 4th quarter valued at approximately $56,000. Huntington National Bank lifted its holdings in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in Penumbra in the first quarter worth approximately $66,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.