Insider Selling: Penumbra (NYSE:PEN) Director Sells $57,793.92 in Stock

Penumbra, Inc. (NYSE:PEN) Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total value of $57,793.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Penumbra Stock Down 0.2%

Shares of NYSE:PEN opened at $315.47 on Friday. The stock has a 50-day simple moving average of $293.26 and a 200-day simple moving average of $266.53. The stock has a market capitalization of $12.35 billion, a P/E ratio of 75.47, a PEG ratio of 1.93 and a beta of 0.71. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $321.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. During the same period in the previous year, the company posted $0.85 earnings per share. Penumbra’s revenue was up 17.8% compared to the same quarter last year. Equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Institutional Trading of Penumbra

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in Penumbra by 1,139.3% during the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after acquiring an additional 582,369 shares during the last quarter. Norges Bank bought a new position in shares of Penumbra during the second quarter worth about $114,014,000. Holocene Advisors LP acquired a new position in Penumbra in the third quarter worth about $78,585,000. Qube Research & Technologies Ltd acquired a new position in Penumbra in the second quarter worth about $53,818,000. Finally, Man Group plc increased its holdings in Penumbra by 1,862.2% in the second quarter. Man Group plc now owns 206,461 shares of the company’s stock valued at $52,984,000 after buying an additional 195,939 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their price objective on Penumbra from $355.00 to $359.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $355.00 price target on shares of Penumbra in a report on Wednesday, December 17th. Truist Financial lifted their price objective on shares of Penumbra from $312.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Wells Fargo & Company began coverage on shares of Penumbra in a research report on Tuesday, November 18th. They set an “underweight” rating on the stock. Finally, Robert W. Baird set a $345.00 price target on shares of Penumbra in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.40.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.