Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 15,000 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the transaction, the chief executive officer now owns 852,582 shares in the company, valued at $202,300,656.96. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Adam Elsesser also recently made the following trade(s):

• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $204.56, for a total transaction of $3,068,400.00.
• On Friday, September 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00.

Penumbra Price Performance

Shares of PEN stock opened at $244.95 on Friday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The firm has a fifty day moving average of $211.55 and a 200-day moving average of $197.25. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 284.83, a price-to-earnings-growth ratio of 2.44 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra, Inc. will post 2.79 earnings per share for the current year.

Penumbra declared that its board has authorized a stock buyback plan on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Penumbra

Several large investors have recently made changes to their positions in the stock. True Wealth Design LLC bought a new position in shares of Penumbra during the third quarter worth about $26,000. GAMMA Investing LLC grew its stake in shares of Penumbra by 111.1% during the 3rd 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 bought a new stake in shares of Penumbra in the second quarter worth $54,000. Park Place Capital Corp boosted its holdings in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares during 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 valued at $70,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group upped their price target on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Stifel Nicolaus began coverage on shares of Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target for the company. BTIG Research boosted their price target on shares of Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Truist Financial raised their price objective on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.92.

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.