Algert Global LLC lessened its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 48.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,612 shares of the company's stock after selling 13,506 shares during the quarter. Algert Global LLC's holdings in Penumbra were worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in PEN. Champlain Investment Partners LLC increased its position in shares of Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock valued at $300,786,000 after purchasing an additional 264,122 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock worth $71,564,000 after buying an additional 358,932 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Penumbra by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company's stock worth $58,906,000 after buying an additional 4,814 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Penumbra by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,767 shares of the company's stock valued at $52,030,000 after acquiring an additional 4,848 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Penumbra by 96.7% during the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company's stock worth $46,257,000 after acquiring an additional 126,392 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.
A number of equities research analysts have recently issued reports on PEN shares. Wells Fargo & Company cut shares of Penumbra from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Leerink Partners assumed coverage on Penumbra in a research note on Tuesday, September 3rd. They set an "outperform" rating and a $263.00 price objective on the stock. Royal Bank of Canada boosted their target price on Penumbra from $205.00 to $222.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Robert W. Baird raised their price target on Penumbra from $244.00 to $248.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on Penumbra from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $230.92.
View Our Latest Report on PEN
NYSE:PEN opened at $248.96 on Wednesday. The company has a 50-day moving average price of $213.93 and a 200-day moving average price of $197.63. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 289.49, a P/E/G ratio of 2.48 and a beta of 0.51. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34.
Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the prior year, the company earned $0.67 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Penumbra, Inc. will post 2.79 EPS for the current year.
Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
In related news, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the sale, the chief executive officer now owns 882,582 shares of the company's stock, valued at $174,495,287.22. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.74, for a total value of $143,844.00. Following the transaction, the executive vice president now directly owns 64,044 shares in the company, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,748 shares of company stock valued at $10,166,574 in the last ninety days. 5.00% of the stock is currently owned by corporate insiders.
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.
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