Mount Yale Investment Advisors LLC Cuts Position in Penumbra, Inc. (NYSE:PEN)

Mount Yale Investment Advisors LLC reduced its position in shares of Penumbra, Inc. (NYSE:PEN) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,773 shares of the company’s stock after selling 213 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Penumbra were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Silvercrest Asset Management Group LLC lifted its holdings in Penumbra by 3.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after buying an additional 55 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Penumbra by 2.9% in the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after acquiring an additional 62 shares in the last quarter. Creative Planning raised its stake in shares of Penumbra by 4.7% in the third quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after acquiring an additional 71 shares in the last quarter. Arcadia Investment Management Corp MI boosted its holdings in Penumbra by 7.9% in the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total transaction of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at $10,855,854.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 782 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now directly owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,368 shares of company stock worth $6,893,118. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEN. BTIG Research lifted their price objective on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Robert W. Baird decreased their price target on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Leerink Partners assumed coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective on the stock. Wells Fargo & Company cut shares of Penumbra from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $289.00 to $150.00 in a research report on Wednesday, July 31st. Finally, Canaccord Genuity Group increased their target price on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $220.17.

Penumbra Stock Performance

NYSE PEN opened at $204.71 on Friday. The company has a fifty day moving average of $198.70 and a two-hundred day moving average of $193.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a market capitalization of $7.95 billion, a PE ratio of 602.09, a P/E/G ratio of 2.35 and a beta of 0.54.

Penumbra (NYSE:PEN) last released its quarterly 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 firm had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same quarter last year, the business posted $0.43 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that Penumbra, Inc. will post 2.58 earnings per share for the current year.

Penumbra declared that its Board of Directors has approved a share buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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.