Insider Selling: Penumbra, Inc. (NYSE:PEN) CAO Sells 654 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 654 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $243.01, for a total value of $158,928.54. Following the completion of the sale, the chief accounting officer now owns 20,028 shares of the company’s stock, valued at $4,867,004.28. This represents a 3.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lambert Shiu also recently made the following trade(s):

• On Friday, November 29th, Lambert Shiu sold 1,798 shares of Penumbra stock. The stock was sold at an average price of $242.56, for a total value of $436,122.88.

Penumbra Price Performance

Shares of PEN opened at $242.70 on Friday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The stock has a market capitalization of $9.31 billion, a P/E ratio of 282.21, a P/E/G ratio of 2.47 and a beta of 0.51. The company has a 50 day moving average of $221.10 and a 200-day moving average of $199.69.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Penumbra declared that its board has authorized a stock buyback program on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its stake in shares of Penumbra by 276.9% in the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after buying an additional 3,652 shares in the last quarter. CWM LLC increased its stake in shares of Penumbra by 215.7% during the 2nd quarter. CWM LLC now owns 1,550 shares of the company’s stock worth $279,000 after purchasing an additional 1,059 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Penumbra by 98.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 11,474 shares of the company’s stock worth $2,065,000 after purchasing an additional 5,686 shares during the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in shares of Penumbra in the 2nd quarter valued at about $258,000. Finally, SG Americas Securities LLC acquired a new stake in Penumbra in the 2nd quarter valued at about $1,586,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEN shares. Leerink Partners began coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. Piper Sandler upped their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, BTIG Research boosted their target price on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $230.92.

Penumbra Company Profile

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.