Key Points
- Penumbra EVP Johanna Roberts sold 600 shares on Dec. 1 at an average price of $294.94 for $176,964, leaving her with 64,136 shares (a 0.93% reduction valued at about $18.9M).
- Roberts has been selling repeatedly in recent months — 1,800 shares on Nov. 25 at $300.06, 600 shares on Nov. 10 at $266.98, and 600 shares on Oct. 1 at $249.70 — indicating a pattern of insider sales.
- Company results: Penumbra beat Q results with EPS $0.97 vs. $0.90 expected and revenue $354.7M (up 17.8% YoY); analysts' consensus is a "Moderate Buy" with an average target near $305.69.
Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $292.98, for a total transaction of $29,298.00. Following the transaction, the director directly owned 8,416 shares in the company, valued at $2,465,719.68. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Harpreet Grewal also recently made the following trade(s):
- 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 transaction 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.
- On Thursday, October 2nd, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $248.61, for a total value of $46,241.46.
Penumbra Trading Up 1.1%
Shares of NYSE PEN traded up $3.11 during mid-day trading on Thursday, reaching $288.82. 5,087 shares of the company's stock were exchanged, compared to its average volume of 477,854. The company's 50-day moving average is $262.30 and its 200-day moving average is $257.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $310.00. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 68.61, a PEG ratio of 2.41 and a beta of 0.66.
Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.07. The company had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. Analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on PEN shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Penumbra in a research report on Tuesday, November 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $326.00 target price on shares of Penumbra in a report on Monday, October 27th. Wells Fargo & Company initiated coverage on shares of Penumbra in a research report on Tuesday, November 18th. They set an "underweight" rating for the company. Canaccord Genuity Group upped their target price on Penumbra from $350.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, November 6th. Finally, Truist Financial cut their price objective on shares of Penumbra from $310.00 to $300.00 and set a "buy" rating for the company in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and a consensus target price of $305.69.
View Our Latest Report on PEN
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Abbot Financial Management Inc. lifted its holdings in shares of Penumbra by 1.3% in the 3rd quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company's stock worth $824,000 after purchasing an additional 42 shares during the last quarter. Glenview Trust Co lifted its position in Penumbra by 5.0% in the 3rd quarter. Glenview Trust Co now owns 904 shares of the company's stock valued at $229,000 after purchasing an additional 43 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Penumbra by 0.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 8,693 shares of the company's stock valued at $2,202,000 after purchasing an additional 47 shares during the period. GAMMA Investing LLC grew its position in Penumbra by 7.3% in the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company's stock worth $195,000 after purchasing an additional 52 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company's stock valued at $46,000 after purchasing an additional 62 shares during the period. 88.88% of the stock is currently owned by institutional investors.
Penumbra Company Profile
(
Get Free Report)
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.
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