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

Penumbra, Inc. (NYSE:PEN) Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the sale, the director now owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Penumbra Trading Up 0.8 %

Shares of PEN opened at $177.42 on Friday. Penumbra, Inc. has a fifty-two week low of $170.59 and a fifty-two week high of $341.23. The company has a market capitalization of $6.88 billion, a PE ratio of 74.86, a price-to-earnings-growth ratio of 1.80 and a beta of 0.55. The stock has a fifty day moving average of $192.82 and a two-hundred day moving average of $224.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, May 7th. The company reported $0.41 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 business had revenue of $278.70 million during the quarter, compared to analyst estimates of $274.94 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts forecast that Penumbra, Inc. will post 2.87 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. First Hawaiian Bank acquired a new position in Penumbra during the second quarter worth approximately $1,597,000. Virtu Financial LLC increased its holdings in shares of Penumbra by 61.6% during the 1st quarter. Virtu Financial LLC now owns 4,011 shares of the company’s stock worth $895,000 after buying an additional 1,529 shares during the last quarter. Tidal Investments LLC raised its position in shares of Penumbra by 276.9% in the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock worth $1,109,000 after buying an additional 3,652 shares during the period. 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 valued at $375,000 after acquiring an additional 55 shares during the last quarter. Finally, First Light Asset Management LLC purchased a new stake in Penumbra during the first quarter valued at about $8,471,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.