Penumbra, Inc. (NYSE:PEN) Shares Sold by PFM Health Sciences LP

PFM Health Sciences LP trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,261 shares of the company’s stock after selling 18,850 shares during the quarter. Penumbra accounts for approximately 1.8% of PFM Health Sciences LP’s portfolio, making the stock its 20th biggest position. PFM Health Sciences LP’s holdings in Penumbra were worth $32,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEN. Tidal Investments LLC increased its position in shares of Penumbra by 276.9% during the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock worth $1,109,000 after purchasing an additional 3,652 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Penumbra during the 2nd quarter worth about $1,597,000. CWM LLC grew its position in Penumbra by 215.7% in the 2nd quarter. CWM LLC now owns 1,550 shares of the company’s stock valued at $279,000 after acquiring an additional 1,059 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Penumbra by 98.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 11,474 shares of the company’s stock valued at $2,065,000 after acquiring an additional 5,686 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Penumbra in the 2nd quarter valued at about $258,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

PEN stock opened at $244.73 on Friday. The business has a 50 day moving average price of $216.76 and a 200 day moving average price of $198.55. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 284.56, a PEG ratio of 2.46 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

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

Penumbra announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 782 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 owns 8,863 shares in the company, valued at approximately $1,809,026.93. The trade was a 8.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total value of $3,559,200.00. Following the completion of the sale, the chief executive officer now owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,748 shares of company stock worth $10,166,574 over the last 90 days. 5.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research reports. Citigroup lifted their target price on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Piper Sandler lifted their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Stifel Nicolaus initiated coverage on Penumbra in a research report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 target price for the company. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Canaccord Genuity Group lifted their target price on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.