Penumbra, Inc. (NYSE:PEN) Shares Acquired by KBC Group NV

KBC Group NV raised its position in shares of Penumbra, Inc. (NYSE:PEN) by 14.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,018 shares of the company’s stock after purchasing an additional 127 shares during the quarter. KBC Group NV’s holdings in Penumbra were worth $198,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in shares of Penumbra by 439.8% in the second quarter. AQR Capital Management LLC now owns 178,413 shares of the company’s stock worth $31,283,000 after buying an additional 145,364 shares during the period. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 126,392 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Penumbra in the 2nd quarter valued at about $17,943,000. Marshall Wace LLP boosted its holdings in shares of Penumbra by 427.0% during the second quarter. Marshall Wace LLP now owns 107,692 shares of the company’s stock worth $19,381,000 after purchasing an additional 87,257 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Penumbra in the 2nd quarter valued at approximately $11,659,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total value of $123,732.00. Following the sale, the executive vice president now owns 61,088 shares in the company, valued at approximately $12,597,567.36. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harpreet Grewal sold 166 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total value 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. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,748 shares of company stock worth $6,607,374. Company insiders own 5.00% of the company’s stock.

Penumbra Trading Up 0.9 %

Shares of PEN stock opened at $239.20 on Thursday. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 276.08, a P/E/G ratio of 2.41 and a beta of 0.51. The firm has a fifty day moving average of $208.85 and a 200-day moving average of $196.42. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. 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 prior year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra, Inc. will post 2.79 earnings per share for the current fiscal year.

Penumbra declared that its board has authorized a share 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 repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler increased their price objective on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird increased their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus initiated coverage on shares of Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Wells Fargo & Company cut 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. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.92.

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.