Penumbra, Inc. (NYSE:PEN) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its holdings in Penumbra, Inc. (NYSE:PEN) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,118 shares of the company’s stock after buying an additional 347 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Penumbra were worth $1,772,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PEN. GAMMA Investing LLC raised its position in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in shares of Penumbra during the 2nd quarter worth approximately $54,000. Park Place Capital Corp lifted its stake in Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after buying an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Penumbra by 808.9% during the third quarter. Blue Trust Inc. now owns 509 shares of the company’s stock worth $92,000 after buying an additional 453 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEN has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Penumbra from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lowered shares of Penumbra from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $289.00 to $150.00 in a research report on Wednesday, July 31st. Leerink Partners assumed coverage on Penumbra in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.67.

Penumbra Trading Up 1.9 %

Shares of PEN stock opened at $237.84 on Monday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The firm’s 50 day moving average price is $207.29 and its two-hundred day moving average price is $196.04. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 276.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating 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 business had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that Penumbra, Inc. will post 2.79 EPS for the current year.

Penumbra declared that its board has authorized a stock buyback plan on Tuesday, August 13th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 166 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 8,697 shares of the company’s stock, valued at approximately $1,659,648.51. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 1,620 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 925,962 shares of the company’s stock, valued at approximately $185,192,400. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,768 shares of company stock valued at $6,787,530 over the last quarter. Company insiders own 5.00% of the company’s stock.

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.