First Trust Advisors LP Buys 3,906 Shares of Penumbra, Inc. $PEN

First Trust Advisors LP lifted its position in shares of Penumbra, Inc. (NYSE:PEN) by 4.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 100,723 shares of the company’s stock after purchasing an additional 3,906 shares during the quarter. First Trust Advisors LP’s holdings in Penumbra were worth $25,849,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PEN. Parkside Financial Bank & Trust boosted its stake in shares of Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after buying an additional 66 shares during the last quarter. AlphaQuest LLC acquired a new position in Penumbra in the 1st quarter valued at about $66,000. EverSource Wealth Advisors LLC lifted its holdings in Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Penumbra during the first quarter worth $76,000. Finally, Spire Wealth Management acquired a new stake in Penumbra in the 2nd quarter worth about $91,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 5.5%

Shares of NYSE PEN opened at $302.89 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. The company has a 50-day moving average price of $266.75 and a 200-day moving average price of $258.56. The stock has a market capitalization of $11.86 billion, a P/E ratio of 72.46, a P/E/G ratio of 2.37 and a beta of 0.66. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.90 by $0.07. The firm had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. On average, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $292.98, for a total value of $29,298.00. Following the transaction, the director owned 8,416 shares in the company, valued at $2,465,719.68. The trade was a 1.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 300 shares of Penumbra stock in a transaction on Friday, December 5th. The stock was sold at an average price of $300.13, for a total value of $90,039.00. Following the sale, the executive vice president owned 63,836 shares in the company, valued at $19,159,098.68. This trade represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 19,744 shares of company stock worth $5,755,174. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PEN. BTIG Research reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, October 27th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Canaccord Genuity Group lifted their price target on Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Penumbra from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Evercore ISI reissued an “outperform” rating and set a $286.00 target price on shares of Penumbra in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $305.69.

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.