Intech Investment Management LLC Has $2.34 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Intech Investment Management LLC decreased its stake in Penumbra, Inc. (NYSE:PEN) by 39.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,028 shares of the company’s stock after selling 7,897 shares during the quarter. Intech Investment Management LLC’s holdings in Penumbra were worth $2,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC lifted its position in shares of Penumbra by 3.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock valued at $375,000 after acquiring an additional 55 shares in the last quarter. Tidal Investments LLC raised its stake in Penumbra by 276.9% during the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after purchasing an additional 3,652 shares during the period. Virtu Financial LLC lifted its holdings in shares of Penumbra by 61.6% in the first quarter. Virtu Financial LLC now owns 4,011 shares of the company’s stock valued at $895,000 after purchasing an additional 1,529 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Penumbra in the second quarter worth $1,597,000. Finally, CWM LLC grew its holdings in shares of Penumbra by 215.7% during the second quarter. CWM LLC now owns 1,550 shares of the company’s stock valued at $279,000 after buying an additional 1,059 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

NYSE PEN opened at $244.84 on Monday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The stock’s 50-day moving average is $211.55 and its two-hundred day moving average is $197.12. The firm has a market cap of $9.40 billion, a P/E ratio of 284.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.99% and a net margin of 2.97%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. On average, analysts anticipate that Penumbra, Inc. will post 2.79 earnings per share for the current fiscal year.

Penumbra declared that its board has approved a stock buyback plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 882,582 shares in the company, valued at $174,495,287.22. The trade was a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 166 shares of the stock in a transaction that occurred on 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 directly owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,748 shares of company stock worth $10,166,574. 5.00% of the stock is owned by insiders.

Analyst Ratings Changes

PEN has been the subject of several research analyst reports. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Robert W. Baird raised their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Canaccord Genuity Group upped their price objective on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, BTIG Research upped their price target on shares of Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. 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 stock. According to MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $227.92.

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.