Pallas Capital Advisors LLC Raises Stake in Penumbra, Inc. (NYSE:PEN)

Pallas Capital Advisors LLC increased its stake in Penumbra, Inc. (NYSE:PEN) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,108 shares of the company’s stock after buying an additional 41 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Penumbra were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEN. Janus Henderson Group PLC boosted its holdings in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after buying an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after acquiring an additional 358,932 shares during the period. Champlain Investment Partners LLC raised its stake in Penumbra by 20.6% in 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 in the 3rd quarter valued at about $31,965,000. Finally, Braidwell LP raised its stake in Penumbra by 70.0% in the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after acquiring an additional 148,834 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial boosted their price objective on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. BTIG Research boosted their price objective on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.00.

Penumbra Stock Up 3.7 %

Shares of NYSE PEN opened at $262.27 on Thursday. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 304.97, a PEG ratio of 2.47 and a beta of 0.52. The business has a 50-day moving average of $242.86 and a 200-day moving average of $211.17.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping 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 company had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Penumbra’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the sale, the chief executive officer now owns 867,582 shares of the company’s stock, valued at $177,472,573.92. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the sale, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,819 shares of company stock valued at $11,197,883. 5.00% of the stock is owned by corporate insiders.

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.