Penumbra, Inc. (NYSE:PEN) Director Sells $40,293.76 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Penumbra Price Performance

PEN stock opened at $257.94 on Thursday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 299.93, a PEG ratio of 2.47 and a beta of 0.52. The company’s fifty day simple moving average is $241.17 and its 200 day simple moving average is $208.76. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings data 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 company had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently modified their holdings of the business. Diversified Trust Co boosted its stake in Penumbra by 3.0% during the fourth quarter. Diversified Trust Co now owns 10,269 shares of the company’s stock worth $2,439,000 after acquiring an additional 298 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Penumbra during the fourth quarter valued at about $304,000. GAMMA Investing LLC boosted its position in shares of Penumbra by 160.8% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after purchasing an additional 275 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Penumbra by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock valued at $67,473,000 after buying an additional 24,091 shares during the period. Finally, Tidal Investments LLC increased its position in Penumbra by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company’s stock valued at $973,000 after buying an additional 130 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEN has been the topic of a number of research reports. Citigroup boosted their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Royal Bank of Canada upped their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Truist Financial increased their target price on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their price target on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

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.