Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells 16,600 Shares of Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 16,600 shares of Penumbra stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the transaction, the chief executive officer now directly owns 27,752 shares in the company, valued at $7,665,379.92. This represents a 37.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00.

Penumbra Price Performance

PEN stock traded down $2.32 during mid-day trading on Tuesday, reaching $283.91. 542,471 shares of the company traded hands, compared to its average volume of 396,652. The company has a fifty day moving average price of $274.09 and a 200-day moving average price of $241.71. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a market capitalization of $10.94 billion, a P/E ratio of 835.03, a P/E/G ratio of 2.83 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

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Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Institutional Investors Weigh In On Penumbra

A number of institutional investors and hedge funds have recently bought and sold shares of PEN. True Wealth Design LLC bought a new position in shares of Penumbra in the 3rd quarter worth $26,000. UMB Bank n.a. increased its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC bought a new position in Penumbra in the fourth quarter valued at $56,000. Huntington National Bank raised its position in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after purchasing an additional 154 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $294.47.

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.