Penumbra, Inc. (NYSE:PEN) Director Arani Bose Sells 12,000 Shares

Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Arani Bose sold 12,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the completion of the sale, the director now owns 314,819 shares of the company's stock, valued at approximately $89,336,187.63. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Penumbra Stock Down 2.0 %

Penumbra stock traded down $5.38 during mid-day trading on Monday, hitting $262.18. The company had a trading volume of 55,848 shares, compared to its average volume of 403,048. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a market capitalization of $10.10 billion, a PE ratio of 770.49, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The stock's 50 day moving average price is $274.55 and its two-hundred day moving average price is $243.18. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million for 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, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Remove Ads

Hedge Funds Weigh In On Penumbra

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Penumbra by 74.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,115 shares of the company's stock worth $740,000 after purchasing an additional 1,332 shares in the last quarter. Employees Retirement System of Texas increased its holdings in Penumbra by 31.9% in the 4th quarter. Employees Retirement System of Texas now owns 5,273 shares of the company's stock worth $1,252,000 after buying an additional 1,274 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Penumbra in the 4th quarter worth about $760,000. Polar Asset Management Partners Inc. lifted its stake in Penumbra by 10.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 122,126 shares of the company's stock valued at $29,002,000 after acquiring an additional 11,605 shares during the period. Finally, Cache Advisors LLC purchased a new stake in shares of Penumbra during the 4th quarter valued at about $534,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEN. Citigroup increased their target price on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Canaccord Genuity Group upped their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. UBS Group upped their price objective on shares of Penumbra from $305.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Oppenheimer assumed coverage on shares of Penumbra in a report on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 price objective for the company. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.