Penumbra (NYSE:PEN) Director Arani Bose Sells 15,000 Shares

Penumbra, Inc. (NYSE:PEN) Director Arani Bose sold 15,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the sale, the director directly owned 258,462 shares in the company, valued at approximately $79,818,234.84. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arani Bose also recently made the following trade(s):

• On Tuesday, November 25th, Arani Bose sold 7,500 shares of Penumbra stock. The shares were sold at an average price of $300.19, for a total value of $2,251,425.00.
• On Friday, November 21st, Arani Bose sold 7,500 shares of Penumbra stock. The shares were sold at an average price of $290.56, for a total transaction of $2,179,200.00.

Penumbra Stock Down 1.1%

PEN traded down $3.30 during trading on Monday, hitting $308.72. The company had a trading volume of 473,430 shares, compared to its average volume of 479,327. The company has a market capitalization of $12.09 billion, a PE ratio of 73.86, a PEG ratio of 2.58 and a beta of 0.66. Penumbra, Inc. has a one year low of $221.26 and a one year high of $315.74. The firm’s 50-day moving average price is $270.11 and its 200 day moving average price is $259.42. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEN. Citigroup raised Penumbra from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $285.00 to $350.00 in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $326.00 price objective on shares of Penumbra in a report on Monday, October 27th. Wells Fargo & Company started coverage on shares of Penumbra in a research note on Tuesday, November 18th. They issued an “underweight” rating on the stock. Evercore ISI reiterated an “outperform” rating and issued a $286.00 target price on shares of Penumbra in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.75.

Institutional Trading of Penumbra

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Penumbra in the third quarter worth about $126,000. Allworth Financial LP raised its position in Penumbra by 36.2% during the 3rd quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after buying an additional 64 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Penumbra by 77.6% in the third quarter. Swiss Life Asset Management Ltd now owns 1,689 shares of the company’s stock valued at $428,000 after acquiring an additional 738 shares during the period. Danske Bank A S acquired a new position in Penumbra in the 3rd quarter worth about $76,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Penumbra by 6.4% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 28,395 shares of the company’s stock worth $7,145,000 after purchasing an additional 1,720 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

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.