Y Intercept Hong Kong Ltd Cuts Position in Penumbra, Inc. (NYSE:PEN)

Y Intercept Hong Kong Ltd cut its stake in Penumbra, Inc. (NYSE:PEN) by 78.2% in the 3rd quarter, Holdings Channel reports. The fund owned 1,448 shares of the company’s stock after selling 5,190 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Penumbra were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new position in Penumbra in the third quarter worth $26,000. GAMMA Investing LLC grew its position in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Park Place Capital Corp grew its position in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PEN. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday. They set an “outperform” rating and a $275.00 price target for the company. 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 target for the company. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, BTIG Research upped their price target 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. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock valued at $10,624,973 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Penumbra Price Performance

PEN stock opened at $238.90 on Thursday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a market cap of $9.17 billion, a P/E ratio of 277.79, a PEG ratio of 2.47 and a beta of 0.51. The firm has a 50-day moving average of $230.34 and a 200 day moving average of $202.94. 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Penumbra’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current year.

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.