State of Alaska Department of Revenue Acquires 305 Shares of Penumbra, Inc. (NYSE:PEN)

State of Alaska Department of Revenue lifted its holdings in Penumbra, Inc. (NYSE:PEN) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,490 shares of the company’s stock after buying an additional 305 shares during the period. State of Alaska Department of Revenue’s holdings in Penumbra were worth $872,000 at the end of the most recent reporting period.

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

Insider Transactions at Penumbra

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 transaction of $324,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $324,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harpreet Grewal sold 166 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the sale, the director now directly owns 8,697 shares of the company’s stock, valued at $1,659,648.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,368 shares of company stock valued at $6,893,118. Company insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Shares of PEN opened at $232.39 on Wednesday. The company has a 50 day moving average price of $201.95 and a 200-day moving average price of $194.14. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The stock has a market capitalization of $8.92 billion, a PE ratio of 270.22, a PEG ratio of 2.54 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm had revenue of $301.04 million during the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter in the prior year, the company earned $0.67 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Penumbra, Inc. will post 2.72 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

PEN has been the topic of several analyst reports. Robert W. Baird upped their price target 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 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. Stifel Nicolaus initiated coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. Canaccord Genuity Group upped their price target on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $226.67.

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.