Adam Elsesser Sells 16,560 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 16,560 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $274.35, for a total transaction of $4,543,236.00. Following the completion of the sale, the chief executive officer now directly owns 63,911 shares in the company, valued at approximately $17,533,982.85. The trade was a 20.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The stock was sold at an average price of $272.24, for a total value of $4,509,655.60.
• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00.
• 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 Trading Down 0.4 %

Shares of NYSE PEN traded down $1.02 during mid-day trading on Wednesday, hitting $276.20. 368,586 shares of the company traded hands, compared to its average volume of 415,897. The business has a 50 day moving average of $275.59 and a two-hundred day moving average of $252.75. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 812.35, a PEG ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The business 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%. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PEN shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Canaccord Genuity Group boosted their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Truist Financial cut their price objective on shares of Penumbra from $325.00 to $315.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, StockNews.com lowered Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $293.93.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RTW Investments LP lifted its stake in Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock valued at $204,815,000 after acquiring an additional 66,700 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after purchasing an additional 227,506 shares during the period. Bank of America Corp DE grew its stake in Penumbra by 19.9% during the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after purchasing an additional 57,421 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Penumbra by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after acquiring an additional 60,764 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

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.