Key Points
- Director Arani Bose sold 15,000 PEN shares on Dec. 11 at an average of $308.82, raising $4,632,300 and reducing his stake to 258,462 shares (a 5.49% ownership decrease).
- Including two prior sales (7,500 shares on Nov. 25 at $300.19 and 7,500 on Nov. 21 at $290.56), Bose has sold 30,000 shares recently for roughly $9.06 million.
- Penumbra stock traded near $308.72, the company beat quarterly EPS estimates ($0.97 vs. $0.90), and analysts hold a consensus "Moderate Buy" with a ~$309.75 price target.
Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Arani Bose sold 15,000 shares of the company's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the transaction, the director directly owned 258,462 shares in the company, valued at $79,818,234.84. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Arani Bose also recently made the following trade(s):
- On Tuesday, November 25th, Arani Bose sold 7,500 shares of Penumbra stock. The stock was sold at an average price of $300.19, for a total value of $2,251,425.00.
- On Friday, November 21st, Arani Bose sold 7,500 shares of Penumbra stock. The shares were sold at an average price of $290.56, for a total transaction of $2,179,200.00.
Penumbra Trading Down 1.1%
Shares of Penumbra stock opened at $308.72 on Tuesday. The firm's 50 day simple moving average is $270.11 and its two-hundred day simple moving average is $259.42. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 73.86, a PEG ratio of 2.58 and a beta of 0.66. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $315.74. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02.
Penumbra (NYSE:PEN - Get Free Report) last announced 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. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same period in the previous year, the company earned $0.85 earnings per share. The business's quarterly revenue was up 17.8% compared to the same quarter last year. Analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.
Analyst Ratings Changes
Several brokerages have recently issued reports on PEN. Evercore ISI restated an "outperform" rating and issued a $286.00 price objective on shares of Penumbra in a research note on Thursday, November 6th. BTIG Research restated a "buy" rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, October 27th. Wall Street Zen downgraded Penumbra from a "buy" rating to a "hold" rating in a research report on Saturday, November 1st. Citigroup upgraded Penumbra from a "neutral" rating to a "buy" rating and upped their target price for the stock from $285.00 to $350.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Penumbra from $265.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $309.75.
View Our Latest Stock Report on PEN
Hedge Funds Weigh In On Penumbra
Several institutional investors and hedge funds have recently modified their holdings of PEN. FNY Investment Advisers LLC purchased a new position in shares of Penumbra during the 3rd quarter valued at approximately $126,000. Allworth Financial LP grew its position in shares of Penumbra by 36.2% in the third quarter. Allworth Financial LP now owns 241 shares of the company's stock valued at $61,000 after purchasing an additional 64 shares during the period. Swiss Life Asset Management Ltd grew its position in shares of Penumbra by 77.6% in the third quarter. Swiss Life Asset Management Ltd now owns 1,689 shares of the company's stock valued at $428,000 after purchasing an additional 738 shares during the period. Danske Bank A S purchased a new stake in shares of Penumbra during the third quarter worth about $76,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Penumbra by 6.4% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 28,395 shares of the company's stock worth $7,145,000 after purchasing an additional 1,720 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.
About Penumbra
(
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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