Penumbra, Inc. (NYSE:PEN) EVP Sells $114,456.00 in Stock

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares in the company, valued at approximately $11,538,690.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, September 3rd, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $206.22, for a total transaction of $123,732.00.
• On Tuesday, August 13th, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $175.98, for a total transaction of $105,588.00.

Penumbra Stock Performance

NYSE PEN opened at $194.73 on Friday. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 82.16, a PEG ratio of 2.18 and a beta of 0.54. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The stock has a fifty day simple moving average of $190.58 and a 200 day simple moving average of $195.77.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that Penumbra, Inc. will post 2.59 EPS for the current year.

Penumbra declared that its board has initiated a stock repurchase program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEN shares. Royal Bank of Canada reduced their target price on Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Leerink Partners assumed coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 target price on the stock. Canaccord Genuity Group lowered their target price on Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird reduced their price target on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Citigroup upped their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $208.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PEN. Mather Group LLC. acquired a new stake in shares of Penumbra during the first quarter worth $29,000. WASHINGTON TRUST Co bought a new stake in Penumbra during the second quarter valued at $54,000. Northwestern Mutual Wealth Management Co. grew its holdings in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares during the period. Headlands Technologies LLC bought a new position in shares of Penumbra in the 1st quarter worth about $89,000. Finally, RiverPark Advisors LLC raised its position in shares of Penumbra by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 507 shares of the company’s stock worth $113,000 after acquiring an additional 397 shares in the last quarter. 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.