Hantz Financial Services Inc. Takes $9.81 Million Position in Penumbra, Inc. (NYSE:PEN)

Hantz Financial Services Inc. purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 54,509 shares of the company’s stock, valued at approximately $9,810,000. Hantz Financial Services Inc. owned approximately 0.14% of Penumbra at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEN. Vanguard Group Inc. grew its stake in shares of Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after acquiring an additional 32,557 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Penumbra by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock valued at $29,893,000 after purchasing an additional 8,122 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Penumbra by 31.3% during the 4th quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock worth $182,000 after purchasing an additional 172 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Penumbra in the 2nd quarter valued at approximately $1,597,000. Finally, Jennison Associates LLC boosted its stake in shares of Penumbra by 192.1% during the 1st quarter. Jennison Associates LLC now owns 87,139 shares of the company’s stock valued at $19,448,000 after buying an additional 57,310 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEN. BTIG Research upped their price target on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird cut their target price on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Truist Financial reiterated a “buy” rating and issued a $200.00 price target (down from $230.00) on shares of Penumbra in a research note on Wednesday, July 31st. Canaccord Genuity Group cut their price objective on Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Citigroup boosted their price target on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average price target of $199.50.

Penumbra Price Performance

Shares of PEN opened at $202.32 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. The company has a market cap of $7.86 billion, a P/E ratio of 85.37, a PEG ratio of 2.26 and a beta of 0.55. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $302.00. The stock has a fifty day moving average price of $184.54 and a 200 day moving average price of $205.08.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. On average, research analysts forecast that Penumbra, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the completion of the transaction, the chief executive officer now directly owns 927,582 shares in the company, valued at $187,853,906.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $188.90, for a total value of $113,340.00. Following the completion of the transaction, the executive vice president now directly owns 62,888 shares of the company’s stock, valued at approximately $11,879,543.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,590 shares of company stock worth $3,718,846. 5.00% of the stock is owned by company insiders.

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.