Everence Capital Management Inc. Takes Position in Penumbra, Inc. (NYSE:PEN)

Everence Capital Management Inc. acquired a new position in Penumbra, Inc. (NYSE:PEN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,280 shares of the company’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEN. True Wealth Design LLC acquired a new stake in shares of Penumbra in the third quarter worth $26,000. 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 worth $33,000 after acquiring an additional 90 shares during the period. Park Place Capital Corp grew its stake in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% in the 3rd 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 period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of NYSE:PEN opened at $251.61 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $240.23 and a 200 day moving average price of $208.42. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 292.57, a PEG ratio of 2.47 and a beta of 0.52. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 business had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Penumbra’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.74, for a total value of $143,844.00. Following the sale, the executive vice president now 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. Over the last 90 days, insiders sold 48,819 shares of company stock worth $11,197,883. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PEN. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Robert W. Baird lifted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. BTIG Research boosted their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup raised their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Four research 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 stock. According to data from MarketBeat, Penumbra presently has an average rating of “Moderate Buy” and a consensus 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.