Adam Elsesser Sells 61,600 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the sale, the chief executive officer now owns 16,376 shares in the company, valued at $4,644,069.84. The trade was a 79.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, December 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00.

Penumbra Trading Up 2.1 %

NYSE:PEN traded up $5.49 on Tuesday, hitting $262.73. The stock had a trading volume of 508,894 shares, compared to its average volume of 396,519. The company has a fifty day moving average price of $267.76 and a two-hundred day moving average price of $236.14. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 772.74, a PEG ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new stake in shares of Penumbra in the 3rd quarter valued at $26,000. UMB Bank n.a. boosted its position in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after buying an additional 70 shares during the period. Hurley Capital LLC acquired a new position in shares of Penumbra in the fourth quarter worth $56,000. Huntington National Bank raised its position in Penumbra by 138.7% in the 4th 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. raised its stake in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after buying an additional 208 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEN has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Robert W. Baird raised their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. UBS Group boosted their price objective on Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Citigroup raised their target price on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $292.64.

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.