Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 1,620 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 1,620 shares of Penumbra stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00. Following the completion of the transaction, the chief executive officer now owns 925,962 shares in the company, valued at approximately $185,192,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, July 17th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00.

Penumbra Stock Down 3.9 %

Shares of PEN opened at $202.02 on Tuesday. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 85.24, a P/E/G ratio of 2.13 and a beta of 0.55. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $302.00. The company has a 50-day moving average price of $182.49 and a two-hundred day moving average price of $206.10.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. Equities analysts predict that Penumbra, Inc. will post 2.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on PEN. Truist Financial reiterated a “buy” rating and issued a $200.00 target price (down previously from $230.00) on shares of Penumbra in a report on Wednesday, July 31st. Wells Fargo & Company downgraded shares of Penumbra from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada lowered their price target on Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Morgan Stanley reduced their price objective on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and a consensus price target of $195.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after buying an additional 369 shares in the last quarter. Algert Global LLC increased its holdings in shares of Penumbra by 177.0% during the second quarter. Algert Global LLC now owns 28,118 shares of the company’s stock worth $5,060,000 after buying an additional 17,968 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Penumbra during the second quarter worth approximately $4,033,000. The Manufacturers Life Insurance Company increased its holdings in shares of Penumbra by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 106,815 shares of the company’s stock worth $19,223,000 after buying an additional 3,683 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Penumbra by 439.8% during the second quarter. AQR Capital Management LLC now owns 178,413 shares of the company’s stock worth $31,283,000 after buying an additional 145,364 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

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.