Insider Selling: Penumbra, Inc. (NYSE:PEN) EVP Sells 600 Shares of Stock

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00. Following the sale, the executive vice president now owns 61,088 shares of the company’s stock, valued at approximately $12,597,567.36. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, August 13th, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $175.98, for a total transaction of $105,588.00.
• On Monday, July 1st, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $179.20, for a total value of $107,520.00.

Penumbra Price Performance

Shares of Penumbra stock opened at $204.04 on Friday. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $302.00. The business’s fifty day moving average price is $186.88 and its 200 day moving average price is $203.25. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $7.92 billion, a P/E ratio of 86.09, a PEG ratio of 2.26 and a beta of 0.54.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. During the same period in the prior year, the company posted $0.43 EPS. Penumbra’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Penumbra, Inc. will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

PEN has been the subject of several research analyst reports. Piper Sandler reduced their price objective on Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reduced their target price on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, July 31st. BTIG Research raised their target price on Penumbra from $187.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Canaccord Genuity Group dropped their price objective on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.27.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEN. Silvercrest Asset Management Group LLC boosted its holdings in Penumbra by 3.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Penumbra by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after buying an additional 62 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in Penumbra by 7.9% in the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Penumbra by 9.4% in the fourth quarter. M&T Bank Corp now owns 1,380 shares of the company’s stock valued at $347,000 after acquiring an additional 118 shares during the period. 88.88% of the stock is currently owned by 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.