Blair William & Co. IL Grows Holdings in Penumbra, Inc. (NYSE:PEN)

Blair William & Co. IL lifted its position in shares of Penumbra, Inc. (NYSE:PEN) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,656 shares of the company’s stock after acquiring an additional 982 shares during the quarter. Blair William & Co. IL’s holdings in Penumbra were worth $3,178,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PEN. Mather Group LLC. purchased a new stake in Penumbra in the 1st quarter worth $29,000. Quest Partners LLC acquired a new stake in shares of Penumbra in the fourth quarter valued at about $71,000. WASHINGTON TRUST Co purchased a new stake in shares of Penumbra during the second quarter worth about $54,000. Headlands Technologies LLC acquired a new position in shares of Penumbra during the 1st quarter worth about $89,000. Finally, RiverPark Advisors LLC lifted its stake in Penumbra by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 507 shares of the company’s stock valued at $113,000 after buying an additional 397 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Trading Down 2.9 %

PEN opened at $195.00 on Monday. The business’s 50 day moving average price is $190.38 and its 200 day moving average price is $198.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. The stock has a market capitalization of $7.56 billion, a PE ratio of 82.28, a P/E/G ratio of 2.10 and a beta of 0.54. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. As a group, equities research analysts expect that Penumbra, Inc. will post 2.63 EPS for the current year.

Penumbra announced that its board has initiated a share repurchase plan on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

PEN has been the subject of several research reports. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday, July 31st. Stifel Nicolaus started coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price objective on the stock. Wells Fargo & Company lowered shares of Penumbra from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Finally, Royal Bank of Canada decreased their price target on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Six 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. According to data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the completion of the transaction, the chief executive officer now owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Harpreet Grewal sold 782 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02. Following the sale, the director now owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the transaction, the chief executive officer now owns 927,582 shares of the company’s stock, valued at $187,853,906.64. The disclosure for this sale can be found here. Insiders sold a total of 19,372 shares of company stock worth $3,888,852 over the last three months. Insiders own 5.00% of the company’s stock.

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.