Penumbra Inc (NYSE:PEN) Director Harpreet Grewal Sells 475 Shares

Penumbra Inc (NYSE:PEN) Director Harpreet Grewal sold 475 shares of Penumbra stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $144.81, for a total value of $68,784.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PEN traded down $2.18 during trading hours on Friday, reaching $131.82. 608,715 shares of the company’s stock traded hands, compared to its average volume of 308,875. Penumbra Inc has a 52-week low of $110.84 and a 52-week high of $185.70. The firm has a market capitalization of $4.66 billion, a PE ratio of 167.50, a PEG ratio of 7.67 and a beta of 0.73. The firm has a 50-day moving average price of $155.38 and a 200 day moving average price of $149.91. The company has a quick ratio of 4.33, a current ratio of 6.23 and a debt-to-equity ratio of 0.10.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, August 6th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.06. Penumbra had a return on equity of 6.80% and a net margin of 3.03%. The business had revenue of $134.20 million during the quarter, compared to analysts’ expectations of $130.67 million. During the same period in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts predict that Penumbra Inc will post 0.9 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Penumbra by 3.4% in the 1st quarter. FMR LLC now owns 5,197,972 shares of the company’s stock worth $764,155,000 after buying an additional 173,056 shares during the period. BlackRock Inc. lifted its holdings in shares of Penumbra by 11.0% in the 2nd quarter. BlackRock Inc. now owns 1,688,948 shares of the company’s stock worth $270,233,000 after buying an additional 167,084 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of Penumbra by 16,171.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,247,360 shares of the company’s stock worth $124,736,000 after buying an additional 1,239,694 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Penumbra by 18.5% in the 2nd quarter. Baillie Gifford & Co. now owns 1,095,805 shares of the company’s stock worth $175,329,000 after buying an additional 170,901 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Penumbra by 39.6% in the 2nd quarter. William Blair Investment Management LLC now owns 958,597 shares of the company’s stock worth $153,376,000 after buying an additional 271,784 shares during the period. Institutional investors and hedge funds own 92.11% of the company’s stock.

PEN has been the subject of a number of recent analyst reports. Wells Fargo & Co boosted their price objective on Penumbra from $180.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America boosted their price objective on Penumbra from $150.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. upgraded Penumbra from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a report on Thursday, May 30th. Royal Bank of Canada set a $174.00 price objective on Penumbra and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut Penumbra from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Penumbra has a consensus rating of “Buy” and an average target price of $167.14.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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