Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 15,000 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the sale, the chief executive officer now owns 867,582 shares of the company’s stock, valued at $177,472,573.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, September 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00.
• On Thursday, August 22nd, Adam Elsesser sold 1,620 shares of Penumbra stock. The stock was sold at an average price of $200.00, for a total value of $324,000.00.

Penumbra Price Performance

Shares of PEN stock opened at $204.71 on Friday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 602.09, a PEG ratio of 2.35 and a beta of 0.54. The stock’s 50-day simple moving average is $198.41 and its 200-day simple moving average is $194.08.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Penumbra’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Penumbra, Inc. will post 2.58 earnings per share for the current fiscal year.

Penumbra announced that its Board of Directors has approved a share buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Penumbra

Several large investors have recently added to or reduced their stakes in PEN. Mather Group LLC. acquired a new stake in shares of Penumbra during the first quarter worth about $29,000. GAMMA Investing LLC raised its position in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares during the last quarter. WASHINGTON TRUST Co acquired a new stake in Penumbra during the 2nd quarter valued at approximately $54,000. Park Place Capital Corp boosted its holdings in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEN. Royal Bank of Canada upped their price objective on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Stifel Nicolaus started coverage on shares of Penumbra in a research note on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. Citigroup boosted their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Robert W. Baird dropped their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their price target on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.17.

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.