Sanctuary Advisors LLC Makes New Investment in Penumbra, Inc. (NYSE:PEN)

Sanctuary Advisors LLC bought a new position in Penumbra, Inc. (NYSE:PEN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,887 shares of the company’s stock, valued at approximately $367,000.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Penumbra during the third quarter valued at approximately $26,000. GAMMA Investing LLC lifted its position 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 last quarter. Park Place Capital Corp lifted its position 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 last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harpreet Grewal sold 166 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total transaction of $31,677.78. Following the transaction, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,418 shares of company stock valued at $11,303,723 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Penumbra stock opened at $239.85 on Friday. The company’s 50 day simple moving average is $235.50 and its 200-day simple moving average is $205.30. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 278.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. 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 quick ratio of 3.25 and a current ratio of 5.82.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same period in the previous year, the firm earned $0.67 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEN. Robert W. Baird increased their target price on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Citigroup increased their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler raised their price target on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. BTIG Research raised their price target on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada raised their price target on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $258.00.

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.