Diversified Trust Co Buys 298 Shares of Penumbra, Inc. (NYSE:PEN)

Diversified Trust Co boosted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 3.0% during the fourth quarter, Holdings Channel reports. The firm owned 10,269 shares of the company’s stock after purchasing 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 & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in shares of Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after buying an additional 375,684 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after acquiring an additional 358,932 shares during the period. Champlain Investment Partners LLC boosted its position in Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after purchasing an additional 264,122 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Penumbra during the 3rd quarter valued at about $31,965,000. Finally, Braidwell LP increased its position in shares of Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after purchasing an additional 148,834 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PEN shares. Robert W. Baird upped their target price on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group raised their price objective on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Oppenheimer began coverage on Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.00.

Insider Activity

In related news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,819 shares of company stock valued at $11,197,883. 5.00% of the stock is currently owned by insiders.

Penumbra Price Performance

PEN stock opened at $251.61 on Wednesday. The company has a fifty day simple moving average of $240.23 and a two-hundred day simple moving average of $208.42. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34. 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 firm has a market capitalization of $9.66 billion, a P/E ratio of 292.57, a price-to-earnings-growth ratio of 2.47 and a beta of 0.52.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Analysts anticipate 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.