Penumbra, Inc. (NYSE:PEN) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its holdings in Penumbra, Inc. (NYSE:PEN) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,312 shares of the company’s stock after purchasing an additional 177 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Penumbra were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Abbot Financial Management Inc. increased its stake in shares of Penumbra by 13.6% during the 2nd quarter. Abbot Financial Management Inc. now owns 2,542 shares of the company’s stock valued at $457,000 after acquiring an additional 304 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Penumbra during the second quarter worth approximately $17,943,000. Citizens Financial Group Inc. RI acquired a new position in shares of Penumbra in the 2nd quarter valued at $5,590,000. Dimensional Fund Advisors LP grew its stake in shares of Penumbra by 96.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after buying an additional 126,392 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Penumbra by 234.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 63,015 shares of the company’s stock worth $11,341,000 after buying an additional 44,151 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Price Performance

PEN opened at $191.40 on Wednesday. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 80.76, a PEG ratio of 2.10 and a beta of 0.54. The company has a fifty day simple moving average of $190.34 and a 200 day simple moving average of $197.86.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. During the same period in the previous year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts expect that Penumbra, Inc. will post 2.63 EPS for the current fiscal year.

Penumbra announced that its board has initiated a stock buyback plan on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, July 31st. Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Truist Financial reiterated a “buy” rating and set a $200.00 price objective (down from $230.00) on shares of Penumbra in a research note on Wednesday, July 31st. Finally, BTIG Research raised their target price on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Six investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 15,000 shares of the 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 approximately $187,853,906.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now directly owns 62,288 shares in the company, valued at approximately $11,162,009.60. The disclosure for this sale can be found here. Insiders have sold 34,372 shares of company stock worth $6,854,502 in the last three months. 5.00% of the stock is owned by 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.