Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts Sells 600 Shares

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the sale, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at $15,353,908.56. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, October 1st, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $190.76, for a total value of $114,456.00.
• On Tuesday, September 3rd, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $206.22, for a total transaction of $123,732.00.

Penumbra Stock Down 1.4 %

PEN traded down $3.44 on Tuesday, reaching $237.04. The company’s stock had a trading volume of 203,426 shares, compared to its average volume of 383,237. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 279.51, a P/E/G ratio of 2.41 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $208.19 and a two-hundred day moving average of $196.22.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 EPS 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 firm had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same period last year, the firm posted $0.67 EPS. The company’s revenue was up 11.1% on a year-over-year basis. As a group, analysts forecast that Penumbra, Inc. will post 2.79 EPS for the current fiscal year.

Penumbra announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PEN. Envestnet Portfolio Solutions Inc. purchased a new stake in Penumbra in the first quarter valued at approximately $241,000. Vanguard Group Inc. raised its position in Penumbra by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Penumbra during the 1st quarter worth $680,000. CANADA LIFE ASSURANCE Co grew its position in Penumbra by 2.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,054 shares of the company’s stock worth $6,490,000 after purchasing an additional 559 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in Penumbra by 562.8% in the first quarter. EntryPoint Capital LLC now owns 517 shares of the company’s stock valued at $115,000 after purchasing an additional 439 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEN. Canaccord Genuity Group raised their price objective on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Leerink Partners began coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target for the company. Stifel Nicolaus began coverage on Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. Piper Sandler lifted their target price on Penumbra from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $226.67.

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.