Harpreet Grewal Sells 186 Shares of Penumbra (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the sale, the director directly owned 8,230 shares of the company’s stock, valued at approximately $2,573,027.20. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, December 2nd, Harpreet Grewal sold 100 shares of Penumbra stock. The shares were sold at an average price of $292.98, for a total value of $29,298.00.
• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $227.58, for a total value of $42,329.88.
• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $227.58, for a total value of $42,329.88.

Penumbra Trading Up 2.1%

NYSE:PEN opened at $322.29 on Friday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $325.03. The stock has a market cap of $12.62 billion, a P/E ratio of 77.10, a P/E/G ratio of 1.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. The stock has a 50-day simple moving average of $295.16 and a 200-day simple moving average of $267.00.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07. The firm had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Penumbra

A number of hedge funds and other institutional investors have recently made changes to their positions in PEN. Invesco Ltd. raised its stake in Penumbra by 1,139.3% during the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after acquiring an additional 582,369 shares during the last quarter. Norges Bank purchased a new position in shares of Penumbra in the 2nd quarter valued at approximately $114,014,000. Holocene Advisors LP acquired a new position in shares of Penumbra in the third quarter valued at approximately $78,585,000. Qube Research & Technologies Ltd purchased a new stake in shares of Penumbra during the second quarter worth approximately $53,818,000. Finally, Man Group plc raised its stake in shares of Penumbra by 1,862.2% during the second quarter. Man Group plc now owns 206,461 shares of the company’s stock worth $52,984,000 after purchasing an additional 195,939 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PEN shares. Robert W. Baird set a $345.00 target price on shares of Penumbra in a report on Tuesday, December 16th. Truist Financial raised their price objective on Penumbra from $312.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 29th. Wells Fargo & Company initiated coverage on Penumbra in a report on Tuesday, November 18th. They issued an “underweight” rating for the company. Finally, Bank of America raised their price target on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average target price of $340.40.

Penumbra Company Profile

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.