Penumbra (NYSE:PEN) Director Harpreet Grewal Sells 186 Shares of Stock

by · The Cerbat Gem

Penumbra, Inc. (NYSE:PEN – Get Free Report) Director Harpreet Grewal sold 186 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total value of $58,151.04. Following the transaction, the director directly owned 8,230 shares in the company, valued at $2,573,027.20. The trade was a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Harpreet Grewal also recently made the following trade(s):

  • On Tuesday, December 2nd, Harpreet Grewal sold 100 shares of Penumbra stock. The stock was sold at an average price of $292.98, for a total transaction of $29,298.00.
  • On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $227.58, for a total transaction of $42,329.88.
  • On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $227.58, for a total transaction of $42,329.88.

Penumbra Stock Down 0.2%

PEN stock opened at $315.47 on Friday. The firm’s fifty day simple moving average is $293.26 and its 200-day simple moving average is $266.53. The company has a market capitalization of $12.35 billion, a P/E ratio of 75.47, a price-to-earnings-growth ratio of 1.93 and a beta of 0.71. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $321.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Penumbra from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $275.00 to $370.00 in a research report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Monday, December 29th. Evercore ISI restated an “outperform” rating and issued a $340.00 price objective on shares of Penumbra in a research note on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $355.00 target price on shares of Penumbra in a report on Wednesday, December 17th. Finally, Citigroup raised shares of 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, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.40.

View Our Latest Research Report on PEN

Institutional Investors Weigh In On Penumbra

Several institutional investors and hedge funds have recently made changes to their positions in the company. Abbot Financial Management Inc. raised its holdings in Penumbra by 1.3% during the third quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company’s stock worth $824,000 after purchasing an additional 42 shares in the last quarter. Glenview Trust Co boosted its stake in Penumbra by 5.0% in the 3rd quarter. Glenview Trust Co now owns 904 shares of the company’s stock worth $229,000 after purchasing an additional 43 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in Penumbra by 0.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 8,693 shares of the company’s stock worth $2,202,000 after acquiring an additional 47 shares during the period. GAMMA Investing LLC grew its position in Penumbra by 7.3% during the second quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock valued at $195,000 after purchasing an additional 52 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after acquiring an additional 62 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

(Get Free Report)

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

See Also