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

by · The Markets Daily

Penumbra, Inc. (NYSE:PEN – Get Free Report) Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the sale, the director directly owned 8,230 shares of the company’s stock, valued at $2,573,027.20. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value 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 Performance

PEN traded down $0.68 during midday trading on Thursday, hitting $315.47. 491,162 shares of the company traded hands, compared to its average volume of 392,250. The firm has a market capitalization of $12.35 billion, a PE ratio of 75.47, a price-to-earnings-growth ratio of 1.93 and a beta of 0.71. The company’s 50-day moving average is $293.26 and its 200 day moving average is $266.53. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $321.38. 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. During the same period in the prior year, the business posted $0.85 EPS. Penumbra’s revenue was up 17.8% on a year-over-year basis. On average, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Hedge Funds Weigh In On Penumbra

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in Penumbra during the third quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Penumbra during the second quarter worth $30,000. Rothschild Investment LLC purchased a new stake in Penumbra in the 3rd quarter valued at about $40,000. Parkside Financial Bank & Trust increased its position in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 66 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PEN shares. Bank of America lifted their price objective on shares of Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $355.00 target price on shares of Penumbra in a research report on Wednesday, December 17th. Robert W. Baird set a $345.00 price objective on shares of Penumbra in a report on Tuesday, December 16th. Needham & Company LLC raised their price target on shares of Penumbra from $326.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Canaccord Genuity Group lifted their price target on shares of Penumbra from $355.00 to $359.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Penumbra currently has an average rating of “Moderate Buy” and an average target price of $340.40.

Check Out Our Latest Stock Analysis on PEN

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.

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