Penumbra Inc (NASDAQ:NYSE:PEN) CEO and President Adam Elsesser sold a total of 14,975 shares of common stock on July 9, 2025, for approximately $3.89 million. The sales were executed at prices ranging from $241.09 to $248.79. According to InvestingPro data, Penumbra currently trades at $237.94, with a market capitalization of $9.23 billion. The company maintains excellent financial health, with an InvestingPro Financial Health Score of "GREAT."
On the same day, Elsesser also exercised options to acquire 27,976 shares of Penumbra common stock at a price of $30 per share, for a total value of $839,280. The company shows strong liquidity with a current ratio of 6.3, though InvestingPro analysis indicates the stock is trading at high valuation multiples. Investors should note that Penumbra's next earnings report is scheduled for July 29, 2025.
Following these transactions, Elsesser directly owns 134,432 shares of Penumbra, Inc. common stock. Additionally, Elsesser indirectly owns 577,582 shares through the Siegel/Elsesser Revocable Trust.
The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan. The Reporting Person entered in the 10b5-1 trading plan in connection with the expiration of certain stock options held by the Reporting Person and related sales of shares to satisfy the exercise price and tax withholding obligations upon the exercise of such stock options.
In other recent news, Penumbra has reported significant financial achievements, with sales reaching $324.1 million, marking a 16.3% increase from the previous year. The company's earnings per share (EPS) also saw a notable rise to $0.83, surpassing Wall Street estimates by 24.4%. UBS has responded to these results by raising Penumbra's stock price target to $330, maintaining a Buy rating, while Stifel and BTIG have also increased their price targets to $318 and $320, respectively, citing strong quarterly performance and growth prospects. Penumbra's U.S. Thrombectomy business contributed significantly to these results, with a 25% year-over-year sales increase, despite weaker international sales. The company has reaffirmed its revenue guidance for the year, projecting a 12-14% increase, translating to a target range of $1.34 billion to $1.36 billion.
In addition to the financial results, there is anticipation surrounding Penumbra's Thunderbolt device, which might receive regulatory approval sooner than initially expected. Piper Sandler analyst Matt O'Brien has indicated that the Thunderbolt could be approved within the next few weeks, potentially boosting the company's revenue further. The early approval is not yet factored into current financial projections, suggesting upside potential for Penumbra's earnings. Analysts have expressed confidence in Penumbra's growth trajectory, citing factors such as domestic manufacturing and strategic focus on the U.S. market as competitive advantages. Investors are closely watching for developments regarding the Thunderbolt device, as its timely approval could enhance Penumbra's standing in the medical device sector.