Insider Selling: Penumbra, Inc. (NYSE:PEN) CAO Sells 1,798 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 2nd, Lambert Shiu sold 654 shares of Penumbra stock. The stock was sold at an average price of $243.01, for a total value of $158,928.54.

Penumbra Stock Up 0.2 %

PEN stock traded up $0.40 during trading on Tuesday, hitting $245.24. 279,206 shares of the company’s stock traded hands, compared to its average volume of 378,372. The firm has a market capitalization of $9.41 billion, a P/E ratio of 285.16, a PEG ratio of 2.46 and a beta of 0.51. The business has a fifty day simple moving average of $218.84 and a two-hundred day simple moving average of $199.03. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. 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 (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The company 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%. Penumbra’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. Sell-side analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra declared that its board has authorized a share repurchase program on Tuesday, August 13th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Penumbra

A number of institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC purchased a new position in Penumbra in the third quarter valued at approximately $26,000. GAMMA Investing LLC grew its holdings in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the period. WASHINGTON TRUST Co acquired a new stake in shares of Penumbra in the second quarter valued at about $54,000. Park Place Capital Corp boosted its position 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of 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 during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEN. Robert W. Baird raised their target price on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Citigroup lifted their target price on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Piper Sandler increased their price target on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Leerink Partners initiated coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target on the stock. 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.92.

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.