GAMMA Investing LLC Acquires 90 Shares of Penumbra, Inc. (NYSE:PEN)

GAMMA Investing LLC lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 111.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171 shares of the company’s stock after acquiring an additional 90 shares during the period. GAMMA Investing LLC’s holdings in Penumbra were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Penumbra by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after purchasing an additional 32,557 shares in the last quarter. Champlain Investment Partners LLC raised its position in Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after buying an additional 616,700 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after acquiring an additional 90,444 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Penumbra by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock valued at $58,906,000 after acquiring an additional 4,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Penumbra by 96.7% during the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock worth $46,257,000 after purchasing an additional 126,392 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, July 31st. Citigroup lifted their price target on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $289.00 to $150.00 in a research report on Wednesday, July 31st. Canaccord Genuity Group lifted their target price on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Leerink Partners started coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price for the company. Five 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.17.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at $11,538,690.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $1,809,026.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at approximately $11,538,690.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,368 shares of company stock valued at $3,824,718. Company insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Penumbra stock opened at $208.65 on Friday. The business has a fifty day moving average price of $196.52 and a 200-day moving average price of $194.38. The firm has a market capitalization of $8.10 billion, a P/E ratio of 613.68, a PEG ratio of 2.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share 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 in the prior year, the business posted $0.43 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that Penumbra, Inc. will post 2.59 EPS for the current year.

Penumbra declared that its board has approved a stock repurchase program on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.