135 Shares in Penumbra, Inc. (NYSE:PEN) Purchased by True Wealth Design LLC

True Wealth Design LLC bought a new stake in Penumbra, Inc. (NYSE:PEN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 135 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after purchasing an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after acquiring an additional 264,122 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares during the period. Braidwell LP raised its stake in shares of Penumbra by 70.0% in the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after acquiring an additional 148,834 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Penumbra by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock valued at $58,906,000 after acquiring an additional 4,814 shares in 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 other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the transaction, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the sale, the chief executive officer now owns 882,582 shares of the company’s stock, valued at approximately $174,495,287.22. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,148 shares of company stock valued at $10,042,842 in the last ninety days. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEN. Truist Financial upped their price target on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler upped their target price on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Citigroup increased their price objective on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Robert W. Baird boosted their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Five research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.92.

Penumbra Trading Up 0.3 %

NYSE:PEN opened at $244.86 on Tuesday. The company has a market capitalization of $9.40 billion, a PE ratio of 284.72, a P/E/G ratio of 2.46 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The stock’s 50 day moving average price is $217.76 and its 200 day moving average price is $198.74. 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 announced its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) 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 business had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same period last year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra announced that its board has authorized a share buyback plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

About Penumbra

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.