Penumbra, Inc. (NYSE:PEN) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC lifted its position in Penumbra, Inc. (NYSE:PEN) by 45.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,725 shares of the company’s stock after purchasing an additional 8,705 shares during the period. Natixis Advisors LLC owned about 0.07% of Penumbra worth $5,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its position in Penumbra by 3.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after acquiring an additional 55 shares during the period. ProShare Advisors LLC raised its position in Penumbra by 2.9% during the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after acquiring an additional 62 shares during the period. Legacy Wealth Asset Management LLC raised its position in Penumbra by 3.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock worth $336,000 after acquiring an additional 65 shares during the period. Creative Planning raised its position in Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after acquiring an additional 71 shares during the period. Finally, Arcadia Investment Management Corp MI raised its position in Penumbra by 7.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on PEN shares. Stifel Nicolaus began coverage on shares of Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective for the company. Robert W. Baird upped their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Piper Sandler upped their target price on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday. Leerink Partners began coverage on shares of Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price for the company. Finally, Royal Bank of Canada upped their target price on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Five research 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’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.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now owns 8,863 shares of the company’s stock, valued at $1,809,026.93. This trade represents a 8.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the transaction, the chief executive officer now owns 882,582 shares in the company, valued at $174,495,287.22. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,748 shares of company stock valued at $10,166,574. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Trading Up 1.9 %

Shares of PEN opened at $244.95 on Friday. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The firm has a 50-day moving average price of $211.55 and a 200 day moving average price of $197.25. The firm has a market capitalization of $9.40 billion, a P/E ratio of 284.83, a P/E/G ratio of 2.40 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its 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. The company had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. Sell-side analysts forecast that Penumbra, Inc. will post 2.79 EPS for the current year.

Penumbra declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Penumbra 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.