Crossmark Global Holdings Inc. Acquires 422 Shares of Penumbra, Inc. (NYSE:PEN)

Crossmark Global Holdings Inc. lifted its stake in Penumbra, Inc. (NYSE:PEN) by 16.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,960 shares of the company’s stock after purchasing an additional 422 shares during the period. Crossmark Global Holdings Inc.’s holdings in Penumbra were worth $575,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. WASHINGTON TRUST Co bought a new position in Penumbra in the second quarter worth approximately $54,000. Park Place Capital Corp increased its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company’s stock valued at $92,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PEN. Wells Fargo & Company lowered Penumbra from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Truist Financial raised their target price on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price target on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Stifel Nicolaus began coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $226.67.

Insider Activity

In other Penumbra news, Director Harpreet Grewal sold 166 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total transaction of $31,677.78. Following the sale, the director now owns 8,697 shares in the company, valued at approximately $1,659,648.51. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 882,582 shares of the company’s stock, valued at approximately $174,495,287.22. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,768 shares of company stock valued at $6,787,530 over the last ninety days. 5.00% of the stock is currently owned by insiders.

Penumbra Trading Up 1.8 %

Penumbra stock opened at $237.65 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock has a market cap of $9.12 billion, a PE ratio of 276.34, a price-to-earnings-growth ratio of 2.39 and a beta of 0.51. The stock has a 50-day moving average of $206.61 and a two-hundred day moving average of $195.80. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, research analysts anticipate that Penumbra, Inc. will post 2.79 EPS for the current fiscal year.

Penumbra announced that its board has approved a stock repurchase plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are 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.