Ieq Capital LLC Buys Shares of 7,642 Penumbra, Inc. (NYSE:PEN)

Ieq Capital LLC purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 7,642 shares of the company’s stock, valued at approximately $1,815,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Penumbra in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. increased its stake in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Penumbra by 808.9% during the third quarter. Blue Trust Inc. now owns 509 shares of the company’s stock valued at $92,000 after buying an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 3.5 %

PEN opened at $292.52 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The business’s fifty day moving average is $259.09 and its two-hundred day moving average is $228.69. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 860.35, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the transaction, the chief executive officer now directly owns 837,582 shares of the company’s stock, valued at approximately $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Citigroup increased their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, UBS Group boosted their target price on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.64.

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.