Adam Elsesser Sells 16,565 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,565 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $272.24, for a total transaction of $4,509,655.60. Following the transaction, the chief executive officer now directly owns 52,495 shares in the company, valued at $14,291,238.80. The trade was a 23.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00.
• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Stock Performance

Shares of PEN opened at $262.37 on Friday. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The firm has a market capitalization of $10.11 billion, a PE ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.51. The firm has a 50-day moving average price of $274.48 and a 200 day moving average price of $245.61. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 1.17% and a return on equity of 9.74%. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer began coverage on Penumbra in a research report on Tuesday, December 17th. They set 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $294.47.

Institutional Trading of Penumbra

Several institutional investors have recently modified their holdings of the company. Cerity Partners LLC raised its position in Penumbra by 19.2% in the third quarter. Cerity Partners LLC now owns 3,612 shares of the company’s stock worth $702,000 after acquiring an additional 583 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Penumbra by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,225 shares of the company’s stock worth $1,404,000 after purchasing an additional 953 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Penumbra by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,571 shares of the company’s stock worth $18,959,000 after purchasing an additional 995 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Penumbra during the third quarter worth approximately $773,000. Finally, Paloma Partners Management Co acquired a new position in Penumbra in the third quarter worth approximately $253,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.