Y Intercept Hong Kong Ltd reduced its holdings in Penumbra, Inc. (NYSE:PEN – Free Report) by 78.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,448 shares of the company’s stock after selling 5,190 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Penumbra were worth $281,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after buying an additional 3,863 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Penumbra during the second quarter worth $17,943,000. 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 buying an additional 358,932 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Penumbra during the third quarter worth $1,092,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Penumbra during the third quarter worth $777,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently weighed in on PEN. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Citigroup increased their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Leerink Partners initiated coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Truist Financial increased their target price on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $258.00.
Insider Activity at Penumbra
In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the sale, the chief executive officer now directly owns 882,582 shares in the company, valued at $174,495,287.22. This represents a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lambert Shiu sold 654 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $243.01, for a total transaction of $158,928.54. Following the completion of the sale, the chief accounting officer now owns 20,028 shares in the company, valued at $4,867,004.28. This represents a 3.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,418 shares of company stock worth $10,624,973. 5.00% of the stock is owned by corporate insiders.
Penumbra Stock Down 3.5 %
PEN opened at $238.90 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company’s 50-day moving average is $230.34 and its 200 day moving average is $202.94. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The firm has a market capitalization of $9.17 billion, a P/E ratio of 277.79, a PEG ratio of 2.47 and a beta of 0.51.
Penumbra (NYSE:PEN – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating 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 firm had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same period in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Research analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal 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.
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