3,986 Shares in Penumbra, Inc. (NYSE:PEN) Bought by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,986 shares of the company’s stock, valued at approximately $717,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. ProShare Advisors LLC grew its position in Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after acquiring an additional 62 shares during the last quarter. Sei Investments Co. increased its stake in shares of Penumbra by 103.7% in the second quarter. Sei Investments Co. now owns 80,490 shares of the company’s stock worth $14,486,000 after buying an additional 40,985 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Penumbra in the second quarter worth $11,659,000. Canada Pension Plan Investment Board raised its holdings in Penumbra by 208.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 32,700 shares of the company’s stock valued at $5,885,000 after buying an additional 22,100 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Penumbra during the 2nd quarter valued at $3,586,000. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Down 0.1 %

Shares of Penumbra stock opened at $194.90 on Tuesday. The company has a 50-day simple moving average of $190.45 and a two-hundred day simple moving average of $198.23. The stock has a market capitalization of $7.56 billion, a PE ratio of 82.24, a price-to-earnings-growth ratio of 2.10 and a beta of 0.54. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same period last year, the business posted $0.43 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Penumbra, Inc. will post 2.63 EPS for the current fiscal year.

Penumbra declared that its board has initiated a share repurchase program on Tuesday, August 13th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price target (down previously from $230.00) on shares of Penumbra in a research note on Wednesday, July 31st. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada dropped their target price on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley reduced their price target on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00. Following the completion of the transaction, the executive vice president now directly owns 61,088 shares of the company’s stock, valued at $12,597,567.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $12,597,567.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Don W. Kassing sold 170 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total value of $30,598.30. Following the transaction, the director now directly owns 1,005 shares in the company, valued at $180,889.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,372 shares of company stock worth $3,888,852. Company insiders own 5.00% of the company’s stock.

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.