Diversified Trust Co Grows Stock Position in Penumbra, Inc. (NYSE:PEN)

Diversified Trust Co boosted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,269 shares of the company’s stock after acquiring an additional 298 shares during the quarter. Diversified Trust Co’s holdings in Penumbra were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PEN. Advisors Asset Management Inc. lifted its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Penumbra by 2.9% in the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after buying an additional 62 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in Penumbra by 3.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock valued at $336,000 after buying an additional 65 shares during the last quarter. Creative Planning raised its holdings in Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after buying an additional 71 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after buying an additional 90 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Harpreet Grewal sold 167 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the business’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 transaction of $3,068,400.00. Following the completion of the transaction, the chief executive officer now owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,819 shares of company stock worth $11,197,883 over the last three months. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Trading Up 6.0 %

NYSE:PEN opened at $251.61 on Wednesday. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The company’s 50-day simple moving average is $240.23 and its 200 day simple moving average is $208.42. The firm has a market capitalization of $9.66 billion, a P/E ratio of 292.57, a PEG ratio of 2.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million for 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 quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group increased their price objective on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus assumed coverage on Penumbra in a research note on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. 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, November 26th. Finally, Piper Sandler lifted their price target on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $258.00.

Penumbra 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.