Penumbra (NYSE:PEN) Director Harpreet Grewal Sells 100 Shares

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harpreet Grewal also recently made the following trade(s):

• On Tuesday, January 6th, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $312.64, for a total value of $58,151.04.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $329.84 on Tuesday. The firm has a market capitalization of $12.94 billion, a PE ratio of 72.97, a P/E/G ratio of 2.03 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. The business has a 50-day moving average of $339.89 and a two-hundred day moving average of $304.94. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The company had revenue of $385.39 million during the quarter, compared to analyst estimates of $367.18 million. During the same quarter last year, the business posted $0.97 EPS. Penumbra’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore reaffirmed an “outperform” rating and set a $360.00 target price on shares of Penumbra in a report on Wednesday, February 25th. Truist Financial downgraded Penumbra from a “buy” rating to a “hold” rating and increased their target price for the stock from $370.00 to $374.00 in a report on Friday, January 16th. Bank of America raised their price target on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Piper Sandler downgraded Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price target on the stock. in a report on Thursday, January 15th. Finally, Canaccord Genuity Group downgraded Penumbra from a “buy” rating to a “hold” rating and raised their price target for the stock from $359.00 to $374.00 in a report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, Penumbra presently has a consensus rating of “Hold” and a consensus price target of $361.69.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock worth $238,365,000 after acquiring an additional 18,738 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after acquiring an additional 7,211 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after acquiring an additional 370,636 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock worth $147,962,000 after acquiring an additional 7,050 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Penumbra by 2.6% in the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock worth $132,589,000 after acquiring an additional 10,724 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.