Adam Elsesser Sells 16,150 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,150 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the transaction, the chief executive officer directly owned 146,258 shares in the company, valued at $34,101,515.28. The trade was a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Adam Elsesser also recently made the following trade(s):

• On Wednesday, July 9th, Adam Elsesser sold 15,985 shares of Penumbra stock. The stock was sold at an average price of $243.75, for a total transaction of $3,896,343.75.
• On Wednesday, June 25th, Adam Elsesser sold 15,890 shares of Penumbra stock. The stock was sold at an average price of $253.40, for a total transaction of $4,026,526.00.
• On Wednesday, June 11th, Adam Elsesser sold 15,910 shares of Penumbra stock. The shares were sold at an average price of $253.67, for a total value of $4,035,889.70.
• On Wednesday, May 28th, Adam Elsesser sold 16,300 shares of Penumbra stock. The shares were sold at an average price of $267.91, for a total value of $4,366,933.00.
• On Wednesday, May 14th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $298.22, for a total value of $4,950,452.00.
• On Wednesday, May 7th, Adam Elsesser sold 16,650 shares of Penumbra stock. The shares were sold at an average price of $289.37, for a total value of $4,818,010.50.

Penumbra Stock Up 1.3%

Shares of PEN opened at $233.17 on Friday. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 219.97, a P/E/G ratio of 2.08 and a beta of 0.47. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a 50-day moving average price of $252.65 and a two-hundred day moving average price of $267.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to analysts’ expectations of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. Synergy Investment Management LLC bought a new position in Penumbra during the first quarter worth about $27,000. First Horizon Advisors Inc. raised its stake in shares of Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Penumbra in the fourth quarter valued at approximately $56,000. Huntington National Bank raised its stake in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after acquiring an additional 154 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in shares of Penumbra in the first quarter valued at approximately $66,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEN. BTIG Research reaffirmed a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. Citigroup lowered their price target on Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Wall Street Zen raised Penumbra from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th. Wells Fargo & Company lifted their target price on Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, UBS Group reissued a “buy” rating and set a $330.00 target price (up from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $305.07.

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.