Tidal Investments LLC Grows Position in Penumbra, Inc. (NYSE:PEN)

Tidal Investments LLC grew its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,008 shares of the company’s stock after purchasing an additional 130 shares during the quarter. Tidal Investments LLC’s holdings in Penumbra were worth $973,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in shares of Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after buying an additional 375,684 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after acquiring an additional 358,932 shares during the period. Champlain Investment Partners LLC lifted its position in shares of Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after acquiring an additional 264,122 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Penumbra in the third quarter worth $31,965,000. Finally, Braidwell LP grew its position in shares of Penumbra by 70.0% in the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after purchasing an additional 148,834 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Buying and Selling

In other Penumbra news, CAO Lambert Shiu sold 654 shares of Penumbra stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $243.01, for a total transaction of $158,928.54. Following the transaction, the chief accounting officer now directly owns 20,028 shares of the company’s stock, valued at approximately $4,867,004.28. This trade represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the sale, the executive vice president now owns 60,488 shares of the company’s stock, valued at approximately $11,538,690.88. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,418 shares of company stock worth $7,659,323 in the last quarter. 5.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEN. Wells Fargo & Company raised Penumbra from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $190.00 to $275.00 in a report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Stifel Nicolaus initiated coverage on shares of Penumbra in a research note on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective for the company. Truist Financial increased their target price on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Leerink Partners initiated coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.00.

Penumbra Stock Up 1.9 %

Shares of NYSE:PEN opened at $243.52 on Friday. The firm has a market capitalization of $9.35 billion, a PE ratio of 283.16, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The firm has a fifty day moving average of $231.36 and a 200 day moving average of $203.22.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 return on equity of 8.99% and a net margin of 2.97%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. As a group, research analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

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.