UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Penumbra, Inc. (NYSE:PEN – Free Report) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,571 shares of the company’s stock after buying an additional 995 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Penumbra were worth $18,959,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PEN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Penumbra by 15.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,225 shares of the company’s stock worth $1,404,000 after purchasing an additional 953 shares in the last quarter. Cynosure Group LLC lifted its stake in shares of Penumbra by 51.0% in the third quarter. Cynosure Group LLC now owns 3,087 shares of the company’s stock valued at $600,000 after purchasing an additional 1,043 shares during the period. FMR LLC lifted its stake in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after purchasing an additional 121,465 shares during the period. Qsemble Capital Management LP purchased a new stake in Penumbra during the third quarter worth about $242,000. Finally, Loomis Sayles & Co. L P grew its position in Penumbra by 13.7% during the third quarter. Loomis Sayles & Co. L P now owns 112,383 shares of the company’s stock worth $21,837,000 after buying an additional 13,534 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.
Wall Street Analysts Forecast Growth
PEN has been the subject of a number of research reports. Leerink Partners began coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target for the company. Citigroup lifted their price objective on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Truist Financial raised their price target on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, BTIG Research boosted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.92.
Insider Transactions at Penumbra
In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the transaction, the chief executive officer now directly owns 882,582 shares in the company, valued at approximately $174,495,287.22. This represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total value of $31,677.78. Following the completion of the sale, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,418 shares of company stock worth $10,624,973 over the last quarter. 5.00% of the stock is currently owned by insiders.
Penumbra Price Performance
Penumbra stock opened at $242.70 on Friday. The stock has a market capitalization of $9.31 billion, a P/E ratio of 282.21, a P/E/G ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The firm’s 50-day moving average is $221.10 and its two-hundred day moving average is $199.69.
Penumbra (NYSE:PEN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The business had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current year.
Penumbra declared that its board has authorized a share buyback program on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Penumbra Company 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.
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