Penumbra, Inc. (NYSE:PEN) Director Don W. Kassing Sells 170 Shares of Stock

Penumbra, Inc. (NYSE:PENGet Free Report) Director Don W. Kassing sold 170 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $223.18, for a total value of $37,940.60. Following the sale, the director now owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Penumbra Stock Up 1.7 %

Shares of Penumbra stock opened at $215.17 on Thursday. Penumbra, Inc. has a 1 year low of $180.93 and a 1 year high of $348.67. The business has a 50-day moving average of $245.42 and a two-hundred day moving average of $235.46. The company has a market capitalization of $8.33 billion, a P/E ratio of 93.15, a price-to-earnings-growth ratio of 2.09 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49.

Penumbra (NYSE:PENGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. As a group, equities analysts predict that Penumbra, Inc. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PEN. Price T Rowe Associates Inc. MD boosted its position in shares of Penumbra by 58.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,104,590 shares of the company’s stock worth $780,930,000 after buying an additional 1,140,807 shares during the period. Norges Bank acquired a new position in Penumbra during the fourth quarter valued at approximately $99,266,000. Morgan Stanley boosted its position in Penumbra by 331.1% during the fourth quarter. Morgan Stanley now owns 320,876 shares of the company’s stock valued at $71,382,000 after purchasing an additional 246,451 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Penumbra by 7,117.3% during the first quarter. Envestnet Asset Management Inc. now owns 241,635 shares of the company’s stock valued at $2,800,000 after purchasing an additional 238,287 shares during the last quarter. Finally, Rock Springs Capital Management LP boosted its position in Penumbra by 37.6% during the third quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock valued at $121,862,000 after purchasing an additional 137,750 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PEN shares. Truist Financial dropped their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $284.00 to $250.00 in a report on Friday, February 23rd. TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Piper Sandler reiterated an “overweight” rating and issued a $290.00 price objective on shares of Penumbra in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $304.45.

View Our Latest Analysis on PEN

Penumbra Company Profile

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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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Insider Buying and Selling by Quarter for Penumbra (NYSE:PEN)

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