Key Points
- Penumbra director Harpreet Grewal sold 100 shares on April 2 at an average price of $328.22 under a pre-arranged Rule 10b5-1 plan, reducing their position by 1.13% to 8,719 shares (≈$2.86M).
- The company reported quarterly results on Feb. 25 with a shockingly weak ($0.37) EPS versus $1.12 expected, while revenue of $385.39M beat estimates and rose 22.2% year-over-year.
- Institutional investors own 88.88% of PEN and analysts' consensus is a "Hold" with an average price target of $361.69 (four Buy, fourteen Hold).
Penumbra, Inc. (NYSE:PEN - Get Free Report) Director Harpreet Grewal sold 100 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares of the company's stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Harpreet Grewal also recently made the following trade(s):
- On Tuesday, January 6th, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $312.64, for a total value of $58,151.04.
Penumbra Stock Performance
Shares of Penumbra stock opened at $329.84 on Tuesday. The stock has a market cap of $12.94 billion, a PE ratio of 72.97, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The business has a fifty day simple moving average of $339.89 and a 200-day simple moving average of $304.94. The company has a quick ratio of 4.29, a current ratio of 6.64 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41.
Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($1.49). The firm had revenue of $385.39 million for the quarter, compared to analyst estimates of $367.18 million. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. Penumbra's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.
Institutional Investors Weigh In On Penumbra
Several large investors have recently modified their holdings of PEN. Invesco Ltd. grew its stake in shares of Penumbra by 1,139.3% in the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company's stock valued at $162,571,000 after purchasing an additional 582,369 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock valued at $184,715,000 after purchasing an additional 370,636 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Penumbra in the 4th quarter valued at approximately $107,567,000. Holocene Advisors LP bought a new stake in shares of Penumbra in the 3rd quarter valued at approximately $78,585,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Penumbra in the 2nd quarter valued at approximately $53,818,000. 88.88% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PEN has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an "equal weight" rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, January 15th. JPMorgan Chase & Co. raised Penumbra from a "neutral" rating to an "overweight" rating and raised their target price for the company from $275.00 to $370.00 in a report on Thursday, December 18th. Evercore reaffirmed an "outperform" rating and issued a $360.00 price target on shares of Penumbra in a research report on Wednesday, February 25th. Citigroup downgraded Penumbra from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $350.00 to $374.00 in a research report on Thursday, January 15th. Finally, Wall Street Zen downgraded Penumbra from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, Penumbra currently has an average rating of "Hold" and an average price target of $361.69.
View Our Latest Analysis on PEN
About Penumbra
(
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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