Stifel Financial Corp Has $579,000 Stock Position in Penumbra, Inc. (NYSE:PEN)

Stifel Financial Corp lowered its stake in Penumbra, Inc. (NYSE:PEN) by 11.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,982 shares of the company’s stock after selling 399 shares during the period. Stifel Financial Corp’s holdings in Penumbra were worth $579,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of Penumbra in the third quarter worth about $26,000. GAMMA Investing LLC increased its position in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Park Place Capital Corp lifted its stake in Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the transaction, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,418 shares of company stock worth $11,303,723. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Royal Bank of Canada increased their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. BTIG Research boosted their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus initiated coverage on Penumbra in a research note on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Penumbra Price Performance

Shares of NYSE PEN opened at $240.54 on Friday. The company has a market capitalization of $9.23 billion, a PE ratio of 279.70, a P/E/G ratio of 2.47 and a beta of 0.51. 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, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The firm has a fifty day simple moving average of $234.87 and a 200 day simple moving average of $204.94.

Penumbra (NYSE:PEN) last posted its quarterly earnings data 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. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same period last year, the company posted $0.67 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current year.

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.