Dynamic Technology Lab Private Ltd Lowers Position in Penumbra, Inc. (NYSE:PEN)

Dynamic Technology Lab Private Ltd trimmed its position in Penumbra, Inc. (NYSE:PEN) by 51.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,090 shares of the company’s stock after selling 2,252 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Penumbra were worth $406,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Penumbra during the third quarter worth about $31,965,000. AQR Capital Management LLC grew its holdings in 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 purchasing an additional 145,364 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Penumbra by 96.7% during the second 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 in the last quarter. Institutional investors own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total value of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares in the company, valued at approximately $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 782 shares of the company’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 in the company, valued at approximately $1,809,026.93. This trade represents a 8.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,748 shares of company stock worth $10,166,574 in the last quarter. 5.00% of the stock is owned by corporate insiders.

Penumbra Stock Performance

Shares of NYSE PEN opened at $244.12 on Friday. The stock has a market cap of $9.37 billion, a PE ratio of 283.86, a price-to-earnings-growth ratio of 2.46 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The firm has a fifty day moving average price of $216.76 and a 200-day moving average price of $198.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last issued its 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. The company had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. Equities analysts anticipate that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Penumbra announced that its board has initiated a stock buyback program on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

PEN has been the topic of a number of analyst reports. Robert W. Baird boosted their price target on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Leerink Partners started coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target for the company. BTIG Research increased their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada lifted 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 equities 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. Based on data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and an average target price of $230.92.

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.