Penumbra (NYSE:PEN) Director Sells $46,241.46 in Stock

Key Points

• Harpreet Grewal, a director at Penumbra, Inc. (NYSE:PEN), sold 186 shares of stock for approximately $46,241.46, reducing his holdings by 2.09% to a total of 8,702 shares valued at about $2.16 million.
• Penumbra's latest quarterly earnings exceeded expectations, with earnings per share of $0.86 and a revenue of $339.46 million, marking a 13.4% year-over-year increase.
• A recent downgrade by Wall Street Zen has changed Penumbra's rating from "buy" to "hold", while other analysts maintain varying price objectives ranging from $290 to $335 per share.

Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Harpreet Grewal sold 186 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $248.61, for a total transaction of $46,241.46. Following the completion of the transaction, the director owned 8,702 shares of the company's stock, valued at approximately $2,163,404.22. The trade was a 2.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Harpreet Grewal also recently made the following trade(s):

• On Tuesday, September 2nd, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $272.19, for a total transaction of $50,627.34.

Penumbra Stock Performance

NYSE:PEN traded up $2.56 during trading hours on Friday, reaching $256.05. 362,538 shares of the company's stock were exchanged, compared to its average volume of 442,705. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 68.10, a P/E/G ratio of 2.29 and a beta of 0.41. The company has a 50-day moving average of $257.64 and a 200 day moving average of $262.97. 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, Inc. has a 1-year low of $190.08 and a 1-year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $339.46 million during the quarter, compared to analysts' expectations of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. Penumbra's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. Research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on PEN. Wall Street Zen downgraded shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research report on Saturday, September 27th. Wells Fargo & Company set a $290.00 price objective on shares of Penumbra in a research report on Wednesday. UBS Group set a $335.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Truist Financial set a $310.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $302.93.

Institutional Trading of Penumbra

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Penumbra by 7.3% in the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company's stock valued at $195,000 after purchasing an additional 52 shares during the period. Fifth Third Bancorp increased its holdings in shares of Penumbra by 16.4% in the 1st quarter. Fifth Third Bancorp now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 57 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock valued at $41,000 after purchasing an additional 66 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Penumbra by 2.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company's stock valued at $737,000 after purchasing an additional 82 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds 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.

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