Penumbra, Inc. (NYSE:PEN) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in shares of Penumbra, Inc. (NYSE:PEN) by 2.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,896,396 shares of the company’s stock after acquiring an additional 121,465 shares during the quarter. Fmr LLC owned about 0.15% of Penumbra worth $1,145,729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. GAMMA Investing LLC lifted its holdings in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the period. WASHINGTON TRUST Co acquired a new stake in shares of Penumbra in the 2nd quarter worth $54,000. Park Place Capital Corp boosted its holdings in shares of Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the transaction, the chief executive officer now owns 882,582 shares of the company’s stock, valued at $174,495,287.22. This represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total value of $159,614.02. Following the completion of the sale, the director now directly owns 8,863 shares of the company’s stock, valued at approximately $1,809,026.93. This represents a 8.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,748 shares of company stock valued at $10,166,574. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

Penumbra stock opened at $244.15 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The stock has a fifty day moving average of $214.90 and a two-hundred day moving average of $197.95. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 283.90, a PEG ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. On average, analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Penumbra announced that its board has initiated a share repurchase plan on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

PEN has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company downgraded Penumbra from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Citigroup raised their target price on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Truist Financial boosted their target price on shares of Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Canaccord Genuity Group increased their price target on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.92.

Penumbra Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.