Arani Bose Sells 7,500 Shares of Penumbra (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Arani Bose sold 7,500 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $290.56, for a total value of $2,179,200.00. Following the completion of the sale, the director owned 282,761 shares in the company, valued at $82,159,036.16. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Penumbra Stock Performance

Shares of PEN traded up $0.74 during trading hours on Tuesday, hitting $298.85. The company’s stock had a trading volume of 790,208 shares, compared to its average volume of 482,368. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 79.48, a PEG ratio of 2.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The business has a 50 day simple moving average of $257.96 and a two-hundred day simple moving average of $257.40. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. The business had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. Penumbra’s revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent analyst reports. Wells Fargo & Company started coverage on shares of Penumbra in a research note on Tuesday, November 18th. They set an “underweight” rating for the company. Canaccord Genuity Group upped their price target on shares of Penumbra from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Needham & Company LLC restated a “buy” rating and set a $326.00 target price on shares of Penumbra in a research report on Monday, October 27th. Royal Bank Of Canada lowered their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Finally, BTIG Research restated a “buy” rating and issued a $320.00 price objective on shares of Penumbra in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.69.

Institutional Trading of Penumbra

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Penumbra by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock worth $990,760,000 after acquiring an additional 185,306 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Penumbra by 2.6% during the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after buying an additional 17,772 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Penumbra by 437.0% in the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock worth $188,159,000 after buying an additional 572,606 shares during the period. Invesco Ltd. increased its holdings in shares of Penumbra by 1,139.3% in the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock worth $162,571,000 after buying an additional 582,369 shares during the period. Finally, Norges Bank bought a new stake in shares of Penumbra in the 2nd quarter valued at about $114,014,000. Hedge funds and other institutional investors 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.