Hantz Financial Services Inc. Lowers Stock Position in Penumbra, Inc. (NYSE:PEN)

Hantz Financial Services Inc. reduced its stake in Penumbra, Inc. (NYSE:PEN) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,036 shares of the company’s stock after selling 1,473 shares during the quarter. Hantz Financial Services Inc.’s holdings in Penumbra were worth $10,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PEN. GAMMA Investing LLC grew its position in Penumbra by 111.1% during the third 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 bought a new position in Penumbra during the second quarter valued at approximately $54,000. Park Place Capital Corp grew its position in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Penumbra by 1,845.0% in the second 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. grew its holdings in shares of Penumbra by 11.5% in 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 owned by hedge funds and other institutional investors.

Penumbra Trading Down 1.9 %

Penumbra stock opened at $244.15 on Friday. The business has a 50-day simple moving average of $215.77 and a two-hundred day simple moving average of $198.27. The company has a market cap of $9.37 billion, a P/E ratio of 283.90, a P/E/G ratio of 2.46 and a beta of 0.51. 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, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34.

Penumbra (NYSE:PEN) last announced 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. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. Analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra declared that its board 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 purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BTIG Research raised their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday. Leerink Partners initiated coverage on Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective for the company. Royal Bank of Canada lifted their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group lifted their price objective on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus initiated coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price objective for the company. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.92.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total value of $3,559,200.00. Following the transaction, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the transaction, the executive vice president now directly owns 64,044 shares in the company, valued at approximately $15,353,908.56. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,748 shares of company stock valued at $10,166,574. Corporate insiders own 5.00% of the company’s stock.

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.