Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 50 Shares of Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Bridget O'rourke sold 50 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $285.48, for a total transaction of $14,274.00. Following the transaction, the director now directly owns 5,573 shares in the company, valued at $1,590,980.04. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Penumbra Price Performance

Shares of Penumbra stock traded down $2.63 during trading on Friday, hitting $275.07. 347,006 shares of the stock traded hands, compared to its average volume of 395,060. 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 $10.59 billion, a price-to-earnings ratio of 809.01, a PEG ratio of 2.83 and a beta of 0.51. The firm's fifty day moving average is $267.39 and its 200-day moving average is $235.44. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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Institutional Investors Weigh In On Penumbra

A number of large investors have recently made changes to their positions in PEN. Janus Henderson Group PLC grew its position in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock worth $129,967,000 after buying an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock valued at $71,564,000 after buying an additional 358,932 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock worth $300,786,000 after purchasing an additional 264,122 shares in the last quarter. Norges Bank bought a new stake in shares of Penumbra in the 4th quarter worth $54,396,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after acquiring an additional 227,506 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PEN. Piper Sandler reaffirmed an "overweight" rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Morgan Stanley raised their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. StockNews.com cut shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 target price on the stock. Finally, BTIG Research lifted their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $292.64.

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.