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

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the sale, the executive vice president now directly owns 64,044 shares in the company, valued at $15,353,908.56. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, October 1st, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $190.76, for a total value of $114,456.00.
• On Tuesday, September 3rd, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00.

Penumbra Price Performance

PEN traded down $3.44 on Tuesday, reaching $237.04. 203,426 shares of the company’s stock were exchanged, compared to its average volume of 383,237. The stock has a market cap of $9.10 billion, a PE ratio of 279.51, a P/E/G ratio of 2.41 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The stock’s fifty day moving average price is $208.19 and its 200-day moving average price is $196.22.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same period in the prior year, the business earned $0.67 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Penumbra, Inc. will post 2.79 EPS for the current year.

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

Analyst Ratings Changes

PEN has been the topic of several recent analyst reports. Stifel Nicolaus began coverage on shares of Penumbra in a research note on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. Truist Financial increased their price target on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Leerink Partners initiated coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective for the company. BTIG Research increased their target price on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird boosted their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Penumbra in the 1st quarter valued at $241,000. Vanguard Group Inc. lifted its position in Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after buying an additional 32,557 shares during the last quarter. Seven Eight Capital LP purchased a new position in Penumbra during the first quarter worth about $680,000. CANADA LIFE ASSURANCE Co increased its position in shares of Penumbra by 2.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,054 shares of the company’s stock valued at $6,490,000 after acquiring an additional 559 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in shares of Penumbra by 562.8% in the 1st quarter. EntryPoint Capital LLC now owns 517 shares of the company’s stock valued at $115,000 after acquiring an additional 439 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.