Penumbra, Inc. (NYSE:PEN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in Penumbra, Inc. (NYSE:PEN) by 3.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,121 shares of the company’s stock after selling 800 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Penumbra worth $4,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. purchased a new position in Penumbra in the first quarter valued at about $29,000. Quest Partners LLC purchased a new position in Penumbra in the fourth quarter valued at about $71,000. WASHINGTON TRUST Co purchased a new position in Penumbra in the second quarter valued at about $54,000. Headlands Technologies LLC purchased a new position in Penumbra in the first quarter valued at about $89,000. Finally, RiverPark Advisors LLC boosted its holdings in Penumbra by 360.9% in the first quarter. RiverPark Advisors LLC now owns 507 shares of the company’s stock valued at $113,000 after purchasing an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now directly owns 8,863 shares in the company, valued at approximately $1,809,026.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now directly owns 8,863 shares in the company, valued at approximately $1,809,026.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the transaction, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. The disclosure for this sale can be found here. Insiders have sold a total of 19,372 shares of company stock worth $3,888,852 in the last three months. 5.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. Morgan Stanley reduced their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Truist Financial reaffirmed a “buy” rating and set a $200.00 target price (down previously from $230.00) on shares of Penumbra in a report on Wednesday, July 31st. BTIG Research increased their target price on Penumbra from $187.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird reduced their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

Penumbra Trading Down 2.9 %

Shares of NYSE PEN opened at $195.00 on Monday. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 82.28, a price-to-earnings-growth ratio of 2.10 and a beta of 0.54. 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’s 50 day simple moving average is $190.38 and its 200 day simple moving average is $198.64.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The firm had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts expect that Penumbra, Inc. will post 2.63 EPS for the current year.

Penumbra declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

About Penumbra

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.