Penumbra, Inc. (NYSE:PEN) CEO Sells $3,765,534.00 in Stock

Key Points

• CEO Adam Elsesser of Penumbra, Inc. sold 16,150 shares for approximately $3.77 million, reducing his holdings by almost 10%.
• Penumbra's stock recently traded at $233.17, reflecting a 1.3% increase during midday trading, with a market cap of $9.03 billion.
• Analysts have set varying price targets for Penumbra, with Robert W. Baird increasing their target from $316 to $325, while Citigroup lowered theirs from $320 to $285.

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 16,150 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the sale, the chief executive officer owned 146,258 shares in the company, valued at $34,101,515.28. This represents a 9.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, July 9th, Adam Elsesser sold 15,985 shares of Penumbra stock. The shares were sold at an average price of $243.75, for a total transaction of $3,896,343.75.
• 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 transaction 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 transaction 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 transaction 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 transaction 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.

Penumbra Stock Down 1.3%

PEN traded down $2.91 during midday trading on Tuesday, hitting $227.26. The company had a trading volume of 692,546 shares, compared to its average volume of 405,613. 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 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 214.39, a PEG ratio of 2.05 and a beta of 0.47. The stock's 50 day moving average price is $250.55 and its 200 day moving average price is $267.34.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. During the same period in the prior year, the company earned $0.64 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. On average, research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial raised their target price on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Citigroup dropped their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada raised their price target on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Finally, Robert W. Baird raised their price target on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $305.07.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently bought and sold shares of PEN. JPMorgan Chase & Co. grew its holdings in shares of Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock valued at $188,159,000 after buying an additional 572,606 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Penumbra during the first quarter valued at about $63,731,000. Norges Bank acquired a new position in shares of Penumbra during the fourth quarter valued at about $54,396,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after buying an additional 227,506 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock valued at $50,699,000 after buying an additional 189,148 shares during the last quarter. 88.88% of the stock is owned by 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.