Insider Selling: Penumbra, Inc. (NYSE:PEN) CFO Sells 2,000 Shares of Stock

Penumbra, Inc. (NYSE:PEN - Get Free Report) CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the transaction, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. This represents a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Penumbra Stock Performance

Shares of Penumbra stock traded down $2.63 during trading hours on Friday, hitting $275.07. 347,006 shares of the company's stock traded hands, compared to its average volume of 395,060. The company has a fifty day simple moving average of $267.39 and a 200-day simple moving average of $235.44. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

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

Remove Ads

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PEN. Creative Planning boosted its position in shares of Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company's stock valued at $306,000 after acquiring an additional 71 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Penumbra by 37.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company's stock worth $346,000 after purchasing an additional 488 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Penumbra by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company's stock valued at $872,000 after acquiring an additional 305 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Penumbra during the third quarter valued at about $777,000. Finally, SpiderRock Advisors LLC bought a new position in shares of Penumbra during the third quarter valued at about $514,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price objective on the stock. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. UBS Group raised their price objective on Penumbra from $305.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Morgan Stanley raised their price objective on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their price objective on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.