Exchange Traded Concepts LLC Sells 636 Shares of Penumbra, Inc. (NYSE:PEN)

Exchange Traded Concepts LLC lessened its stake in shares of Penumbra, Inc. (NYSE:PEN) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,586 shares of the company’s stock after selling 636 shares during the period. Exchange Traded Concepts LLC’s holdings in Penumbra were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after purchasing an additional 32,557 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock worth $242,060,000 after buying an additional 616,700 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after buying an additional 90,444 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Penumbra by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock valued at $58,906,000 after acquiring an additional 4,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Penumbra by 96.7% in the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock worth $46,257,000 after acquiring an additional 126,392 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 1.5 %

Shares of NYSE:PEN opened at $202.26 on Friday. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 85.34, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The business’s 50 day moving average price is $195.75 and its 200-day moving average price is $194.44. 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.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra, Inc. will post 2.59 earnings per share for the current fiscal year.

Penumbra announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 1,620 shares of Penumbra stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the transaction, the chief executive officer now owns 925,962 shares in the company, valued at approximately $185,192,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,368 shares of company stock valued at $3,824,718 in the last 90 days. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEN. Royal Bank of Canada raised their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research lifted their price objective on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird lowered their price objective 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. Finally, Morgan Stanley cut their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.08.

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.