22,410 Shares in Penumbra, Inc. (NYSE:PEN) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new stake in Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 22,410 shares of the company’s stock, valued at approximately $4,033,000.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Penumbra by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock worth $29,893,000 after purchasing an additional 8,122 shares during the period. Corient Private Wealth LLC grew its position in Penumbra by 50.6% during the fourth quarter. Corient Private Wealth LLC now owns 3,715 shares of the company’s stock worth $934,000 after buying an additional 1,249 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Penumbra by 9.7% in the 4th quarter. Allianz Asset Management GmbH now owns 7,182 shares of the company’s stock valued at $1,807,000 after acquiring an additional 637 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Penumbra by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 16,564 shares of the company’s stock valued at $4,167,000 after acquiring an additional 170 shares during the period. Finally, KBC Group NV bought a new stake in shares of Penumbra during the 4th quarter valued at $175,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the transaction, the chief executive officer now directly owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total value of $3,037,800.00. Following the transaction, the chief executive officer now owns 927,582 shares in the company, valued at approximately $187,853,906.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00. Following the completion of the sale, the executive vice president now directly owns 61,088 shares in the company, valued at $12,597,567.36. The disclosure for this sale can be found here. Insiders sold 33,602 shares of company stock worth $6,716,384 over the last three months. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE:PEN opened at $191.55 on Monday. The stock’s 50-day moving average is $190.06 and its 200-day moving average is $196.84. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year 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 has a market cap of $7.44 billion, a P/E ratio of 80.82, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. Equities research analysts anticipate that Penumbra, Inc. will post 2.59 earnings per share for the current year.

Penumbra declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. BTIG Research upped their price objective on shares of Penumbra from $187.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Canaccord Genuity Group cut their price target on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus started coverage on shares of Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective for the company. Finally, Piper Sandler reduced their target price on Penumbra from $260.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

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.