Diversified Trust Co Grows Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Diversified Trust Co grew its stake in shares of Penumbra, Inc. (NYSE:PEN) by 112.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,720 shares of the company’s stock after acquiring an additional 3,552 shares during the period. Diversified Trust Co’s holdings in Penumbra were worth $1,500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Congress Asset Management Co. MA lifted its holdings in Penumbra by 375.0% during the 1st quarter. Congress Asset Management Co. MA now owns 26,576 shares of the company’s stock worth $5,931,000 after purchasing an additional 20,981 shares in the last quarter. Mather Group LLC. bought a new position in shares of Penumbra in the first quarter valued at approximately $29,000. Vanguard Group Inc. grew its stake in Penumbra by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,658,103 shares of the company’s stock valued at $920,159,000 after acquiring an additional 58,184 shares in the last quarter. Virtu Financial LLC bought a new stake in Penumbra during the 4th quarter worth approximately $624,000. Finally, Braidwell LP grew its position in Penumbra by 133.7% during the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock worth $56,041,000 after buying an additional 127,477 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Canaccord Genuity Group dropped their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Truist Financial lowered their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Piper Sandler lowered their target price on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $293.10.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $188.90, for a total value of $113,340.00. Following the transaction, the executive vice president now owns 62,888 shares in the company, valued at $11,879,543.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares in the company, valued at $189,440,130.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $188.90, for a total transaction of $113,340.00. Following the completion of the sale, the executive vice president now owns 62,888 shares in the company, valued at approximately $11,879,543.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,200 shares of company stock worth $3,252,486. Insiders own 5.00% of the company’s stock.

Penumbra Trading Down 1.7 %

Shares of Penumbra stock traded down $3.11 on Monday, hitting $176.86. The stock had a trading volume of 95,575 shares, compared to its average volume of 345,541. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a one year low of $170.59 and a one year high of $344.04. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 75.94, a PEG ratio of 1.82 and a beta of 0.55. The stock’s 50-day simple moving average is $194.50 and its two-hundred day simple moving average is $225.90.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The firm had revenue of $278.70 million during the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra, Inc. will post 2.87 EPS for the current year.

About Penumbra

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.