Penumbra CEO Adam Elsesser sells $3.64 million in inventory

Adam Elsesser, CEO and President of Penumbra Inc (NYSE:PEN), not too long ago offered a good portion of his holdings within the firm. Based on a submitting with the Securities and Alternate Fee, Elsesser offered a complete of 14,000 shares of Penumbra’s frequent inventory on December 20, 2024. The gross sales had been executed at costs starting from $240.79 to $244.75 per share, leading to a complete transaction worth of roughly $3.64 million. Based on InvestingPro, Penumbra at present trades at a excessive earnings a number of and exhibits sturdy monetary well being with a “GREAT” total rating.

The transactions had been carried out as a part of Elsesser’s Rule 10b5-1 buying and selling plan and concerned shares held by the Siegel/Elsesser Revocable Belief. Following these gross sales, Elsesser retains possession of 837,582 shares not directly by the belief.

These gross sales are a part of a deliberate buying and selling technique and don’t essentially point out a change in Elsesser’s confidence within the firm’s future efficiency. Penumbra, headquartered in Alameda, California, is understood for its revolutionary medical units and applied sciences utilized in treating vascular and neurovascular illnesses.

In different latest information, RBC Capital Markets tasks a good outlook for the Medical (TASE:PMCN) Provides & Units sector for 2025, with corporations like Boston Scientific (NYSE:BSX), Intuitive Surgical (NASDAQ:ISRG), DexCom (NASDAQ:DXCM), Medtronic (NYSE:MDT), and Edwards Lifesciences (NYSE:EW) displaying important upside alternatives. In the meantime, Encourage Medical Programs (NYSE:INSP) reported a 33% improve in income to $203.2 million in its third quarter, with a internet revenue of $18.5 million. The corporate additionally raised its full-year 2024 income steering to a variety of $793-798 million.

Penumbra, a medical gadget firm, acquired an Outperform ranking and a worth goal of $275 from Oppenheimer, and its inventory was upgraded from Equal Weight to Obese by Wells Fargo (NYSE:WFC), with a brand new worth goal set at $275. The corporate revealed that its pc assisted vacuum thrombectomy (CAVT™) know-how shortens hospital stays and reduces issues for sufferers with intermediate-risk pulmonary embolism (PE).

Canaccord Genuity elevated its worth goal for Penumbra to $260, sustaining a Purchase ranking, following Penumbra’s third-quarter income report which exceeded expectations. The corporate introduced its Q3/24 income at $301.0 million, marking an 11.1% year-over-year improve. These are among the many latest developments within the healthcare sector.

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