Pacer Advisors Inc. Sells 80 Shares of Penumbra, Inc. (NYSE:PEN)

Pacer Advisors Inc. decreased its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,792 shares of the company’s stock after selling 80 shares during the period. Pacer Advisors Inc.’s holdings in Penumbra were worth $1,042,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Penumbra by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares during the period. Dimensional Fund Advisors LP raised its holdings in Penumbra by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock valued at $29,893,000 after acquiring an additional 8,122 shares during the period. First Hawaiian Bank purchased a new position in shares of Penumbra in the second quarter valued at about $1,597,000. Jennison Associates LLC boosted its stake in shares of Penumbra by 192.1% in the first quarter. Jennison Associates LLC now owns 87,139 shares of the company’s stock worth $19,448,000 after acquiring an additional 57,310 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Penumbra during the fourth quarter worth about $1,887,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEN. Citigroup upped their price target on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Leerink Partners began coverage on shares of Penumbra in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target on the stock. Wells Fargo & Company downgraded shares of Penumbra from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $289.00 to $150.00 in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Finally, Morgan Stanley dropped their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Six equities research 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. According to MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Insider Activity

In related news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the transaction, the director now directly owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the sale, the director now directly owns 1,005 shares in the company, valued at $180,889.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.20, for a total value of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at $11,162,009.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,372 shares of company stock valued at $6,854,502. 5.00% of the stock is currently owned by company insiders.

Penumbra Trading Up 0.0 %

Shares of PEN stock opened at $191.66 on Friday. The company has a market cap of $7.43 billion, a PE ratio of 80.87, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The stock’s 50 day simple moving average is $190.03 and its two-hundred day simple moving average is $197.74. 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 (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. The company had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. Penumbra’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. Research analysts predict that Penumbra, Inc. will post 2.59 earnings per share for the current year.

Penumbra declared that its board has approved a stock buyback program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is 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.