Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu Sells 1,798 Shares

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This trade represents a 8.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 2nd, Lambert Shiu sold 654 shares of Penumbra stock. The shares were sold at an average price of $243.01, for a total transaction of $158,928.54.

Penumbra Price Performance

NYSE:PEN opened at $245.24 on Wednesday. The firm’s fifty day moving average is $218.84 and its two-hundred day moving average is $199.03. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 285.16, a PEG ratio of 2.46 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter last year, the company earned $0.67 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Research analysts expect that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra announced that its Board of Directors has approved a share buyback plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PEN. Tidal Investments LLC boosted its stake in Penumbra by 276.9% during the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock worth $1,109,000 after buying an additional 3,652 shares during the period. Renaissance Technologies LLC purchased a new position in Penumbra in the 2nd quarter valued at approximately $17,943,000. Thrivent Financial for Lutherans increased its position in shares of Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Penumbra in the third quarter valued at $1,092,000. Finally, AlphaCentric Advisors LLC purchased a new position in Penumbra in the third quarter valued at $777,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEN. Stifel Nicolaus started coverage on shares of Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price for the company. Truist Financial raised their price objective on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. BTIG Research raised their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Leerink Partners initiated coverage on shares of Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $230.92.

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.