Victory Capital Management Inc. Sells 565 Shares of Penumbra, Inc. (NYSE:PEN)

Victory Capital Management Inc. lowered its holdings in Penumbra, Inc. (NYSE:PEN) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,336 shares of the company’s stock after selling 565 shares during the quarter. Victory Capital Management Inc.’s holdings in Penumbra were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Penumbra by 111.1% during the 3rd 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. WASHINGTON TRUST Co purchased a new stake in Penumbra in the second quarter worth approximately $54,000. Park Place Capital Corp grew its position in Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Penumbra by 1,845.0% during the 2nd 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 during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company’s stock valued at $92,000 after buying an additional 453 shares during the period. 88.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PEN. Royal Bank of Canada lifted their price objective on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Robert W. Baird boosted their price target on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Finally, Stifel Nicolaus began coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.92.

Penumbra Stock Down 0.1 %

Shares of PEN stock opened at $244.68 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The company’s fifty day moving average price is $212.69 and its 200-day moving average price is $197.37. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 284.51, a PEG ratio of 2.48 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same period last year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Penumbra, Inc. will post 2.79 EPS for the current fiscal year.

Penumbra declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’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 transaction, the executive vice president now directly owns 61,088 shares of the company’s stock, valued at approximately $12,597,567.36. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the sale, the director now owns 8,863 shares in the company, valued at approximately $1,809,026.93. This represents a 8.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,748 shares of company stock valued at $10,166,574. 5.00% of the stock is owned by company insiders.

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.