Cwm LLC Buys 461 Shares of Penumbra, Inc. (NYSE:PEN)

Cwm LLC lifted its position in Penumbra, Inc. (NYSE:PEN) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,011 shares of the company’s stock after purchasing an additional 461 shares during the quarter. Cwm LLC’s holdings in Penumbra were worth $391,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Penumbra during the first quarter worth approximately $29,000. GAMMA Investing LLC increased its holdings in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. WASHINGTON TRUST Co bought a new position in Penumbra in the 2nd quarter valued at $54,000. Park Place Capital Corp boosted its stake in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $208.65 on Monday. The firm’s 50 day simple moving average is $196.52 and its 200 day simple moving average is $194.11. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 88.04, a P/E/G ratio of 2.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. During the same period last year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Penumbra, Inc. will post 2.59 earnings per share for the current year.

Penumbra announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus started coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target for the company. Robert W. Baird reduced their target price on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company lowered shares of Penumbra from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $289.00 to $150.00 in a report on Wednesday, July 31st. Citigroup upped their price objective on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada lifted 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. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.17.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total transaction of $123,732.00. Following the sale, the executive vice president now owns 61,088 shares of the company’s stock, valued at $12,597,567.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total transaction of $123,732.00. Following the completion of the sale, the executive vice president now directly owns 61,088 shares of the company’s stock, valued at approximately $12,597,567.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the completion of the transaction, the director now directly owns 8,697 shares in the company, valued at approximately $1,659,648.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,368 shares of company stock valued at $3,824,718. Company insiders own 5.00% of the company’s stock.

About Penumbra

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.