Brighton Jones LLC Acquires Shares of 1,177 Penumbra, Inc. $PEN

Brighton Jones LLC bought a new position in Penumbra, Inc. (NYSE:PEN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,177 shares of the company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also modified their holdings of PEN. GAMMA Investing LLC raised its stake in Penumbra by 59.0% during the first quarter. GAMMA Investing LLC now owns 709 shares of the company’s stock worth $190,000 after acquiring an additional 263 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Penumbra by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,251 shares of the company’s stock worth $869,000 after purchasing an additional 136 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Penumbra by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,418 shares of the company’s stock worth $1,716,000 after purchasing an additional 148 shares in the last quarter. KBC Group NV lifted its holdings in Penumbra by 10.9% during the 1st quarter. KBC Group NV now owns 1,603 shares of the company’s stock valued at $429,000 after purchasing an additional 158 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in Penumbra by 1.1% in the first quarter. New York State Teachers Retirement System now owns 38,054 shares of the company’s stock valued at $10,176,000 after buying an additional 400 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the sale, the director owned 558 shares of the company’s stock, valued at approximately $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $253.93, for a total value of $47,230.98. Following the transaction, the director directly owned 186 shares in the company, valued at $47,230.98. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,460 shares of company stock worth $16,322,614 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Penumbra Stock Down 0.8%

Shares of NYSE:PEN opened at $231.39 on Friday. The company has a 50 day moving average price of $259.19 and a two-hundred day moving average price of $260.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The company has a market capitalization of $9.02 billion, a PE ratio of 61.54, a PEG ratio of 2.10 and a beta of 0.41. Penumbra, Inc. has a 52 week low of $207.58 and a 52 week high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million for the quarter, compared to analysts’ expectations of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.Penumbra’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. Analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Wednesday, October 8th. Royal Bank Of Canada cut their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. BTIG Research reissued a “buy” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday. Finally, Truist Financial decreased their price target on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Penumbra currently has an average rating of “Moderate Buy” and an average price target of $305.94.

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.