Penumbra, Inc. (NYSE:PEN) Director Sells $31,677.78 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 166 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the transaction, the director now directly owns 8,697 shares in the company, valued at approximately $1,659,648.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Harpreet Grewal also recently made the following trade(s):

• On Wednesday, September 4th, Harpreet Grewal sold 782 shares of Penumbra stock. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02.

Penumbra Stock Up 1.0 %

Shares of NYSE PEN traded up $1.97 during mid-day trading on Thursday, hitting $194.99. The company had a trading volume of 295,371 shares, compared to its average volume of 384,454. The company has a market capitalization of $7.57 billion, a PE ratio of 82.27, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54. The business’s 50-day simple moving average is $190.26 and its 200 day simple moving average is $196.35. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter last year, the business posted $0.43 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Penumbra, Inc. will post 2.59 earnings per share for the current year.

Penumbra announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley cut their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Leerink Partners assumed coverage on Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target on the stock. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada decreased 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. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.00.

Institutional Investors Weigh In On Penumbra

Several institutional investors have recently modified their holdings of PEN. Vanguard Group Inc. increased its holdings 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. Champlain Investment Partners LLC raised its position in shares of Penumbra by 131.8% during the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock worth $242,060,000 after acquiring an additional 616,700 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Penumbra by 12.2% during the first quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock worth $186,066,000 after purchasing an additional 90,444 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Penumbra by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock valued at $58,906,000 after purchasing an additional 4,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Penumbra by 96.7% in the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after purchasing an additional 126,392 shares during the last quarter. 88.88% of the stock is 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.