Penumbra Inc (NYSE:PEN) CFO Sridhar Kosaraju Sells 5,000 Shares

Penumbra Inc (NYSE:PEN) CFO Sridhar Kosaraju sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $143.45, for a total value of $717,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Sridhar Kosaraju also recently made the following trade(s):

  • On Monday, March 11th, Sridhar Kosaraju sold 5,000 shares of Penumbra stock. The stock was sold at an average price of $139.84, for a total value of $699,200.00.

Shares of NYSE:PEN traded up $0.28 during midday trading on Friday, reaching $137.04. The company’s stock had a trading volume of 603,988 shares, compared to its average volume of 387,181. The company has a market cap of $4.75 billion, a P/E ratio of 268.71, a P/E/G ratio of 7.53 and a beta of 0.80. Penumbra Inc has a 1 year low of $110.84 and a 1 year high of $167.35.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. Penumbra had a return on equity of 4.42% and a net margin of 1.48%. The firm had revenue of $120.80 million during the quarter, compared to the consensus estimate of $114.93 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. Research analysts forecast that Penumbra Inc will post 0.83 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Gemmer Asset Management LLC grew its position in Penumbra by 1,005.1% during the first quarter. Gemmer Asset Management LLC now owns 431 shares of the company’s stock valued at $63,000 after acquiring an additional 392 shares during the period. PNC Financial Services Group Inc. grew its position in Penumbra by 30.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 437 shares of the company’s stock valued at $53,000 after acquiring an additional 103 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in Penumbra during the fourth quarter valued at about $56,000. Hsbc Holdings PLC purchased a new stake in Penumbra during the third quarter valued at about $210,000. Finally, Diversified Trust Co purchased a new stake in Penumbra during the third quarter valued at about $240,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

PEN has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Penumbra in a research report on Wednesday, April 17th. ValuEngine downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research raised Penumbra from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research report on Tuesday, March 5th. Finally, Canaccord Genuity lifted their price objective on Penumbra from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $143.17.

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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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