5,620 Shares in Penumbra, Inc. (NYSE:PEN) Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,620 shares of the company’s stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Creative Planning raised its holdings in Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after acquiring an additional 71 shares during the period. CWM LLC raised its holdings in Penumbra by 29.7% during the third quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $391,000 after acquiring an additional 461 shares during the period. Park Place Capital Corp raised its holdings in Penumbra by 1,473.9% during 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 during the period. Diversified Trust Co raised its holdings in Penumbra by 22.8% during the third quarter. Diversified Trust Co now owns 9,971 shares of the company’s stock valued at $1,937,000 after acquiring an additional 1,852 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the period. 88.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the sale, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total value of $31,677.78. Following the sale, the director now directly owns 8,697 shares in the company, valued at approximately $1,659,648.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the sale, the executive vice president now owns 60,488 shares in the company, valued at $11,538,690.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,368 shares of company stock worth $3,824,718 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

Penumbra Stock Performance

Penumbra stock opened at $208.65 on Monday. The firm has a 50 day simple moving average of $196.52 and a 200-day simple moving average of $194.11. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 88.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.54.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. On average, analysts expect that Penumbra, Inc. will post 2.59 EPS for the current year.

Penumbra announced that its Board of Directors has approved a stock buyback program on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company cut 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 report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group lifted their price target on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Truist Financial raised their price objective on shares of Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $220.17.

Penumbra Company 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.