Penumbra’s chief accounting officer sells shares worth over $2.2 million

ALAMEDA, Calif.—Shiu Lambert, the Chief Accounting Officer of Penumbra Inc . (NYSE:PEN), recently sold a significant portion of the company’s stock. According to a filing with the Securities and Exchange Commission, Lambert disposed of shares valued at approximately $2,225,582. The transactions were executed on March 3 and March 4, with prices ranging from $282.88 to $289.76 per share. The sales come as Penumbra’s stock has shown remarkable strength, gaining over 40% in the past six months, according to InvestingPro data.

The sales were conducted under Lambert’s Rule 10b5-1 trading plan, a pre-arranged plan that allows company executives to sell stock at predetermined times, providing an opportunity to diversify their portfolios. Following these sales, Lambert retains ownership of 24,270 shares directly, with an additional 300 shares held indirectly through a spouse’s IRA.

Additionally, on March 4, Lambert exercised stock options to acquire 9,200 shares at a price of $22.04 each, totaling $202,768. These option exercises are part of the company’s compensation package, allowing executives to purchase shares at a set price.

Penumbra Inc., based in Alameda, Calif., specializes in the development and manufacturing of innovative medical devices. The company continues to focus on advancing healthcare solutions, with a particular emphasis on treating vascular and neurovascular diseases. With a market capitalization of $11 billion and revenue growth of nearly 13% in the last twelve months, Penumbra demonstrates solid business momentum. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Panoral Energy reported strong financial results for the fourth quarter of 2023, achieving a net profit of $32 million on revenues of $106 million. The company also announced a full-year 2023 revenue of $285 million, with a net profit of $56 million, showcasing significant improvements in profitability and operational efficiency. Panoral Energy’s strategic initiatives included setting a production target of 24,000 barrels per day for 2024 and reducing capital expenditure for 2025 to $35 million. The company has added new exploration blocks in Equatorial Guinea and Gabon, indicating growth prospects. Furthermore, Panoral Energy has a strong cash position of $73 million and reduced gross debt, highlighting its financial discipline. CEO John Hamilton emphasized the company’s transition to higher production and lower capital expenditure. Analysts from Clarksons have noted the company’s strategic financial discipline and potential for shareholder returns. These developments reflect Panoral Energy’s focused approach to navigating the competitive energy market.

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