Axa S.A. Purchases 6,725 Shares of Penumbra, Inc. (NYSE:PEN)

Axa S.A. lifted its position in shares of Penumbra, Inc. (NYSE:PEN) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,260 shares of the company’s stock after purchasing an additional 6,725 shares during the quarter. Axa S.A. owned 0.29% of Penumbra worth $20,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new position in Penumbra during the first quarter worth about $29,000. WASHINGTON TRUST Co acquired a new stake in shares of Penumbra during the second quarter worth about $54,000. Quest Partners LLC bought a new position in shares of Penumbra during the 4th quarter valued at about $71,000. Headlands Technologies LLC acquired a new position in shares of Penumbra in the 1st quarter valued at approximately $89,000. Finally, RiverPark Advisors LLC increased its stake in Penumbra by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 507 shares of the company’s stock worth $113,000 after purchasing an additional 397 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other Penumbra news, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.99, for a total transaction of $30,598.30. Following the transaction, the director now owns 1,005 shares of the company’s stock, valued at $180,889.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the transaction, the director now directly owns 1,005 shares in the company, valued at approximately $180,889.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.20, for a total value of $107,520.00. Following the completion of the sale, the executive vice president now owns 62,288 shares in the company, valued at approximately $11,162,009.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,372 shares of company stock worth $6,854,502. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BTIG Research upped their price target on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Leerink Partners began coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 target price for the company. Morgan Stanley lowered their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Canaccord Genuity Group cut their price target on Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus started coverage on Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective for the company. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average price target of $208.00.

Penumbra Trading Up 2.5 %

NYSE PEN opened at $191.63 on Friday. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $190.01 and a 200-day moving average of $197.78. The company has a market cap of $7.43 billion, a PE ratio of 80.86, a PEG ratio of 2.22 and a beta of 0.54.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter last year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Penumbra, Inc. will post 2.59 EPS for the current fiscal year.

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

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.