Adam Elsesser Sells 16,600 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,600 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the completion of the sale, the chief executive officer now directly owns 27,752 shares in the company, valued at approximately $7,665,379.92. The trade was a 37.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

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

Penumbra Stock Down 0.1 %

NYSE:PEN traded down $0.40 on Friday, hitting $280.93. The stock had a trading volume of 737,365 shares, compared to its average volume of 397,452. 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, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The business’s fifty day moving average is $272.70 and its 200 day moving average is $240.05. The company has a market cap of $10.82 billion, a PE ratio of 826.25, a P/E/G ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Institutional Trading of Penumbra

A number of hedge funds have recently bought and sold shares of PEN. China Universal Asset Management Co. Ltd. bought a new stake in shares of Penumbra in the 4th quarter worth approximately $573,000. State Street Corp raised its stake in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares during the period. E. Ohman J or Asset Management AB raised its stake in shares of Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Penumbra by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after buying an additional 3,807 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Penumbra by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after acquiring an additional 11,257 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. BTIG Research raised their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. StockNews.com cut Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Bank of America assumed coverage on Penumbra in a research note on Friday, March 14th. They set a “buy” rating and a $320.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and an average target price of $294.47.

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.