Diversify Wealth Management LLC Invests $246,000 in Penumbra, Inc. (NYSE:PEN)

Diversify Wealth Management LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,207 shares of the company’s stock, valued at approximately $246,000.

Several other large investors have also added to or reduced their stakes in PEN. Vanguard Group Inc. boosted its position in shares of Penumbra by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after purchasing an additional 32,557 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of Penumbra by 131.8% during the first quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock worth $242,060,000 after purchasing an additional 616,700 shares during the period. William Blair Investment Management LLC grew its position in Penumbra by 12.2% in the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after purchasing an additional 90,444 shares during the period. Bank of New York Mellon Corp raised its holdings in Penumbra by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after buying an additional 4,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Penumbra by 96.7% during the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after buying an additional 126,392 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE:PEN opened at $233.38 on Friday. The company has a 50-day moving average price of $200.81 and a two-hundred day moving average price of $193.96. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.06 billion, a PE ratio of 271.37, a P/E/G ratio of 2.42 and a beta of 0.54.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.85% and a net margin of 2.97%. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same period in the previous year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Penumbra, Inc. will post 2.58 EPS for the current year.

Penumbra announced that its board has authorized a stock repurchase program on Tuesday, August 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 867,582 shares in the company, valued at approximately $177,472,573.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Penumbra news, Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total transaction of $31,677.78. Following the completion of the sale, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the sale, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,368 shares of company stock valued at $6,893,118. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PEN shares. Truist Financial lifted their target price on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird boosted their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group increased their price target on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price objective on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Royal Bank of Canada upped their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Five 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. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $226.67.

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.