1,565 Shares in Penumbra, Inc. (NYSE:PEN) Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new position in Penumbra, Inc. (NYSE:PEN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,565 shares of the company’s stock, valued at approximately $304,000.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in Penumbra in the 3rd quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Park Place Capital Corp increased its position in Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. BTIG Research lifted their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus began coverage on Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. Citigroup lifted their price target on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and an average price target of $238.25.

Penumbra Stock Performance

Shares of NYSE PEN opened at $242.35 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 281.71, a PEG ratio of 2.39 and a beta of 0.51. The stock’s fifty day simple moving average is $222.95 and its 200 day simple moving average is $200.29. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The business had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts forecast that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Penumbra announced that its Board of Directors has approved a stock buyback program on Tuesday, August 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the sale, the chief executive officer now directly owns 882,582 shares of the company’s stock, valued at approximately $174,495,287.22. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock valued at $10,624,973 over the last quarter. Company insiders own 5.00% of the company’s stock.

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.