Penumbra, Inc. (NYSE:PEN) EVP Sells $114,456.00 in Stock

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now owns 60,488 shares of the company’s stock, valued at approximately $11,538,690.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.
• On Tuesday, August 13th, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $175.98, for a total value of $105,588.00.

Penumbra Stock Performance

Shares of PEN stock traded up $1.97 during mid-day trading on Thursday, hitting $194.99. 295,371 shares of the stock were exchanged, compared to its average volume of 384,454. The stock’s fifty day simple moving average is $190.26 and its two-hundred day simple moving average is $196.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 82.27, a P/E/G ratio of 2.18 and a beta of 0.54.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same quarter last year, the business posted $0.43 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts forecast that Penumbra, Inc. will post 2.59 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lowered shares of Penumbra from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $289.00 to $150.00 in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on shares of Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. 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 report on Wednesday, July 31st. Finally, Citigroup boosted their target price on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.00.

Institutional Trading of Penumbra

A number of large investors have recently bought and sold shares of PEN. Mather Group LLC. purchased a new stake in Penumbra during the 1st quarter valued at approximately $29,000. WASHINGTON TRUST Co acquired a new position in shares of Penumbra in the second quarter valued at approximately $54,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Penumbra during the first quarter worth $89,000. Finally, RiverPark Advisors LLC grew its position in Penumbra by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 507 shares of the company’s stock valued at $113,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.