Penumbra, Inc. (NYSE:PEN) Stock Position Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in shares of Penumbra, Inc. (NYSE:PEN) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 416 shares of the company’s stock after purchasing an additional 43 shares during the period. Advisors Asset Management Inc.’s holdings in Penumbra were worth $81,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in shares of Penumbra during the third quarter worth $2,330,000. S&CO Inc. lifted its holdings in shares of Penumbra by 10.0% during the 3rd quarter. S&CO Inc. now owns 5,500 shares of the company’s stock valued at $1,068,000 after buying an additional 500 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. Natixis Advisors LLC increased its holdings in Penumbra by 45.8% in the third quarter. Natixis Advisors LLC now owns 27,725 shares of the company’s stock worth $5,387,000 after buying an additional 8,705 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Penumbra during the third quarter valued at approximately $218,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.74, for a total transaction of $143,844.00. Following the completion of the sale, the executive vice president now owns 64,044 shares of the company’s stock, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the transaction, the chief executive officer now directly owns 882,582 shares in the company, valued at approximately $174,495,287.22. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,748 shares of company stock worth $10,166,574. Insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $244.12 on Friday. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 283.86, a P/E/G ratio of 2.46 and a beta of 0.51. The firm’s 50-day moving average price is $216.76 and its two-hundred day moving average price is $198.48. 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 1-year low of $148.00 and a 1-year high of $277.34.

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

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

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of analyst reports. Leerink Partners assumed coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective for the company. BTIG Research boosted their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Canaccord Genuity Group lifted their price objective on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird raised their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Five 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 company’s stock. Based on data from MarketBeat, the stock presently 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.