Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu Sells 654 Shares

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 654 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $243.01, for a total value of $158,928.54. Following the completion of the sale, the chief accounting officer now owns 20,028 shares of the company’s stock, valued at approximately $4,867,004.28. This represents a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lambert Shiu also recently made the following trade(s):

• On Friday, November 29th, Lambert Shiu sold 1,798 shares of Penumbra stock. The shares were sold at an average price of $242.56, for a total value of $436,122.88.

Penumbra Stock Up 1.6 %

PEN opened at $249.12 on Thursday. The company has a fifty day moving average price of $220.08 and a 200-day moving average price of $199.38. The firm has a market capitalization of $9.56 billion, a P/E ratio of 289.67, a price-to-earnings-growth ratio of 2.46 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. Equities research analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Penumbra declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new position in Penumbra in the third quarter worth $26,000. GAMMA Investing LLC grew its position in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in Penumbra in the second quarter worth $54,000. Park Place Capital Corp grew its position in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEN. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. BTIG Research lifted their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Leerink Partners initiated coverage on Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 target price on the stock. Piper Sandler lifted their price target on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.92.

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.