Harpreet Grewal Sells 166 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 166 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total value of $31,677.78. Following the sale, the director now owns 8,697 shares in the company, valued at approximately $1,659,648.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Price Performance

Shares of PEN opened at $194.73 on Friday. 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 fifty-two week low of $148.00 and a fifty-two week high of $277.34. The firm has a 50-day simple moving average of $190.58 and a 200-day simple moving average of $196.07. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 82.16, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54.

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

Penumbra declared that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Leerink Partners started coverage on Penumbra in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 target price on the stock. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Truist Financial reissued a “buy” rating and set a $200.00 target price (down previously from $230.00) on shares of Penumbra in a research report on Wednesday, July 31st. Citigroup upped their price target on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, Stifel Nicolaus assumed coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. 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 company. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Hedge Funds Weigh In On Penumbra

Institutional investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its holdings in shares of 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 in the last quarter. ProShare Advisors LLC boosted its holdings in Penumbra by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after purchasing an additional 62 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Penumbra by 7.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after purchasing an additional 74 shares during the period. Retirement Systems of Alabama increased its position in Penumbra by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 48,467 shares of the company’s stock worth $10,817,000 after purchasing an additional 127 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Penumbra during the 1st quarter worth approximately $29,000. 88.88% of the stock is owned by institutional investors and hedge funds.

About Penumbra

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.