Everence Capital Management Inc. Invests $304,000 in Penumbra, Inc. (NYSE:PEN)

Everence Capital Management Inc. purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,280 shares of the company’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. True Wealth Design LLC acquired a new stake in shares of Penumbra during the third quarter worth approximately $26,000. GAMMA Investing LLC boosted its stake in 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. Park Place Capital Corp grew its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position 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 purchasing an additional 43 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the transaction, the chief executive officer now directly owns 867,582 shares in the company, valued at $177,472,573.92. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,819 shares of company stock valued at $11,197,883. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEN. Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price objective on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. BTIG Research boosted their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Oppenheimer initiated coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target on the stock. Finally, Piper Sandler boosted their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.00.

Penumbra Price Performance

Shares of NYSE PEN opened at $251.61 on Wednesday. The stock has a market cap of $9.66 billion, a P/E ratio of 292.57, a P/E/G ratio of 2.47 and a beta of 0.52. The firm’s 50-day simple moving average is $240.23 and its 200 day simple moving average is $208.42. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. 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 (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping 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 company had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same period in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect 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.