Penumbra, Inc. (NYSE:PEN) Director Don W. Kassing Sells 170 Shares

Penumbra, Inc. (NYSE:PEN) Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the sale, the director now owns 1,005 shares of the company’s stock, valued at $180,889.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Penumbra Trading Up 0.8 %

PEN stock traded up $1.45 during midday trading on Wednesday, hitting $177.44. The stock had a trading volume of 130,530 shares, compared to its average volume of 344,588. The firm has a market cap of $6.88 billion, a PE ratio of 74.87, a price-to-earnings-growth ratio of 1.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. Penumbra, Inc. has a 12-month low of $170.59 and a 12-month high of $341.23. The company’s 50-day moving average price is $192.82 and its 200 day moving average price is $224.55.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The company had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Penumbra, Inc. will post 2.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group dropped their price objective on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Truist Financial dropped their price objective on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and an average price target of $293.10.

Institutional Trading of Penumbra

Several institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Penumbra during the 1st quarter valued at $29,000. Signaturefd LLC lifted its holdings in shares of Penumbra by 27.2% during the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Penumbra during the 4th quarter valued at $71,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Penumbra during the 4th quarter valued at $88,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.