Amalgamated Bank Lowers Position in Penumbra, Inc. (NYSE:PEN)

Amalgamated Bank reduced its stake in Penumbra, Inc. (NYSE:PEN) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,934 shares of the company’s stock after selling 1,040 shares during the period. Amalgamated Bank’s holdings in Penumbra were worth $3,679,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares during the period. WASHINGTON TRUST Co purchased a new position in Penumbra during the 2nd quarter valued at about $54,000. Park Place Capital Corp boosted its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Penumbra during the first quarter worth about $89,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $10,855,854.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at $10,855,854.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 1,620 shares of the business’s 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 sale, the chief executive officer now owns 925,962 shares of the company’s stock, valued at approximately $185,192,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,368 shares of company stock worth $6,893,118 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Penumbra Price Performance

PEN stock opened at $236.45 on Friday. The business has a 50 day moving average price of $203.91 and a 200 day moving average price of $194.92. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 274.94, a PEG ratio of 2.37 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34.

Penumbra (NYSE:PEN) last issued its quarterly earnings data 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. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. Equities research analysts anticipate that Penumbra, Inc. will post 2.79 earnings per share for the current fiscal year.

Penumbra declared that its board has approved 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 repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEN. Truist Financial lifted their price objective on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus began coverage on Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. Royal Bank of Canada increased their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Leerink Partners began coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.67.

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.