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

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total value of $3,559,200.00. Following the sale, the chief executive officer now owns 852,582 shares in the company, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $204.56, for a total transaction of $3,068,400.00.
• 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 transaction of $2,965,650.00.

Penumbra Stock Up 1.9 %

NYSE PEN opened at $244.95 on Friday. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 284.83, a PEG ratio of 2.44 and a beta of 0.51. The company has a 50 day moving average of $211.55 and a 200-day moving average of $197.25. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.34.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. On average, equities research analysts expect that Penumbra, Inc. will post 2.79 earnings per share for the current fiscal year.

Penumbra announced that its board has authorized a stock buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its position in shares of Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Vanguard Group Inc. raised its position in Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares in the last quarter. Champlain Investment Partners LLC raised its position in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares in the last quarter. State Street Corp lifted its stake in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after purchasing an additional 3,863 shares during the last quarter. Finally, RTW Investments LP boosted its holdings in shares of Penumbra by 7.2% in the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after purchasing an additional 53,645 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada raised their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird raised their price target on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Citigroup lifted their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $227.92.

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.