Cwm LLC Buys 461 Shares of Penumbra, Inc. (NYSE:PEN)

Cwm LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 29.7% during the third quarter, HoldingsChannel reports. The firm owned 2,011 shares of the company’s stock after acquiring an additional 461 shares during the quarter. Cwm LLC’s holdings in Penumbra were worth $391,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in Penumbra in the 1st quarter valued at about $29,000. Diversified Trust Co lifted its position in shares of Penumbra by 112.1% in the first quarter. Diversified Trust Co now owns 6,720 shares of the company’s stock valued at $1,500,000 after buying an additional 3,552 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Penumbra by 3.3% during the 1st quarter. State of Michigan Retirement System now owns 9,514 shares of the company’s stock worth $2,123,000 after acquiring an additional 300 shares during the period. Norden Group LLC acquired a new position in shares of Penumbra during the 1st quarter worth approximately $4,515,000. Finally, Principal Financial Group Inc. raised its stake in Penumbra by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 145,741 shares of the company’s stock valued at $32,526,000 after acquiring an additional 2,760 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 3.2 %

PEN stock opened at $208.65 on Monday. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34. The business has a 50-day simple moving average of $196.52 and a 200 day simple moving average of $194.11. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.09 billion, a PE ratio of 88.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.54.

Penumbra (NYSE:PEN) last issued 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. The company 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 business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 EPS. Sell-side analysts anticipate that Penumbra, Inc. will post 2.59 EPS for the current fiscal year.

Penumbra announced that its board has authorized a stock buyback plan on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total value of $114,456.00. Following the transaction, the executive vice president now owns 60,488 shares in the company, valued at approximately $11,538,690.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Adam Elsesser sold 1,620 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $200.00, for a total value of $324,000.00. Following the completion of the transaction, the chief executive officer now owns 925,962 shares of the company’s stock, valued at $185,192,400. This 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. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the sale, the executive vice president now owns 60,488 shares in the company, valued at $11,538,690.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,368 shares of company stock worth $3,824,718 over the last three months. Insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

PEN has been the topic of several research reports. Robert W. Baird decreased their price objective on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Citigroup increased their price target on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley reduced their price objective on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Canaccord Genuity Group increased their target price on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Leerink Partners initiated coverage on Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.17.

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.