Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 12,000 Shares of Stock

Key Points

• Penumbra, Inc. Director Arani Bose sold 12,000 shares of the company’s stock for a total of $3,007,800, resulting in a 95.56% decrease in their holdings.
• The company reported a quarterly earnings per share (EPS) of $0.86, exceeding analysts' expectations and representing a 13.4% year-over-year revenue increase to $339.46 million.
• Brokerages have set various price targets for Penumbra, with UBS Group establishing a target of $335.00 and Citigroup lowering theirs to $285.00, reflecting a consensus rating of "Moderate Buy."

Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the sale, the director directly owned 558 shares of the company's stock, valued at approximately $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Penumbra Price Performance

NYSE PEN traded up $2.33 during mid-day trading on Monday, hitting $255.35. The stock had a trading volume of 336,982 shares, compared to its average volume of 496,698. Penumbra, Inc. has a 52-week low of $184.80 and a 52-week high of $310.00. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 67.91, a P/E/G ratio of 2.28 and a beta of 0.40. The company has a 50 day simple moving average of $246.02 and a 200 day simple moving average of $265.48. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. The company had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same period last year, the company posted $0.64 earnings per share. The firm's revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEN. Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Robert W. Baird upped their price objective on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Citigroup decreased their target price on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Four equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $300.47.

Institutional Investors Weigh In On Penumbra

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Penumbra by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company's stock valued at $990,760,000 after purchasing an additional 185,306 shares during the last quarter. RTW Investments LP increased its position in shares of Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock valued at $204,815,000 after buying an additional 66,700 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after purchasing an additional 227,506 shares during the period. Geode Capital Management LLC boosted its stake in shares of Penumbra by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 706,404 shares of the company's stock worth $181,314,000 after buying an additional 17,772 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock worth $188,159,000 after buying an additional 572,606 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

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.