Key Points
- CFO Maggie Yuen sold 2,432 shares on March 2 at an average price of $342.30 for total proceeds of $832,473.60, cutting her stake by 11.7% to 18,353 shares valued at about $6.28 million.
- Penumbra reported a quarterly beat (EPS $1.18 vs. $1.12 estimate; revenue $385.39M, up 22.2% YoY), trades near $340 with a $13.32B market cap, but analysts' consensus is a Hold with an average target of $361.69 and institutional ownership around 88.9%.
Penumbra, Inc. (NYSE:PEN - Get Free Report) CFO Maggie Yuen sold 2,432 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares in the company, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Penumbra Stock Down 0.2%
PEN opened at $339.57 on Thursday. The stock has a fifty day moving average of $337.02 and a 200-day moving average of $293.94. The company has a market capitalization of $13.32 billion, a P/E ratio of 75.13, a P/E/G ratio of 2.09 and a beta of 0.81. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 6.64.
Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The business had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. During the same period in the prior year, the company posted $0.97 earnings per share. Penumbra's revenue was up 22.2% compared to the same quarter last year. On average, equities analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.
Institutional Trading of Penumbra
Institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its stake in shares of Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company's stock valued at $92,984,000 after purchasing an additional 44,185 shares during the last quarter. Machina Capital S.A.S. acquired a new position in Penumbra in the second quarter valued at $369,000. New York State Common Retirement Fund boosted its position in Penumbra by 8.7% during the third quarter. New York State Common Retirement Fund now owns 82,849 shares of the company's stock valued at $20,987,000 after acquiring an additional 6,642 shares during the last quarter. First Trust Advisors LP grew its holdings in Penumbra by 4.0% during the 2nd quarter. First Trust Advisors LP now owns 100,723 shares of the company's stock worth $25,849,000 after acquiring an additional 3,906 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Penumbra by 22.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company's stock worth $6,827,000 after acquiring an additional 4,960 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
PEN has been the subject of several recent research reports. William Blair cut Penumbra from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 15th. Evercore reiterated an "outperform" rating and set a $360.00 target price on shares of Penumbra in a research report on Wednesday, February 25th. Wells Fargo & Company reissued an "equal weight" rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, January 15th. JPMorgan Chase & Co. upgraded Penumbra from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $275.00 to $370.00 in a research report on Thursday, December 18th. Finally, Royal Bank Of Canada downgraded Penumbra from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $361.69.
Check Out Our Latest Stock Report on PEN
Penumbra Company Profile
(
Get Free Report)
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.
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