Castleark Management LLC Raises Holdings in Penumbra, Inc. $PEN

Castleark Management LLC boosted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 61.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,591 shares of the company’s stock after buying an additional 9,346 shares during the period. Castleark Management LLC’s holdings in Penumbra were worth $6,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PEN. Machina Capital S.A.S. purchased a new position in Penumbra during the 2nd quarter worth $369,000. First Trust Advisors LP raised its stake in Penumbra by 4.0% in the second quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock valued at $25,849,000 after buying an additional 3,906 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in Penumbra in the first quarter worth about $732,000. Belpointe Asset Management LLC purchased a new stake in shares of Penumbra during the first quarter worth about $732,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Penumbra by 716.5% during the second quarter. Janney Montgomery Scott LLC now owns 24,749 shares of the company’s stock valued at $6,351,000 after acquiring an additional 21,718 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial lowered their target price on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Wells Fargo & Company began coverage on shares of Penumbra in a report on Tuesday, November 18th. They issued an “underweight” rating for the company. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their target price on Penumbra from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Citigroup raised Penumbra from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $285.00 to $350.00 in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.75.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $248.61, for a total transaction of $46,241.46. Following the transaction, the director directly owned 8,702 shares of the company’s stock, valued at $2,163,404.22. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 1,800 shares of Penumbra stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $300.06, for a total value of $540,108.00. Following the completion of the sale, the executive vice president owned 64,736 shares in the company, valued at approximately $19,424,684.16. The trade was a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,744 shares of company stock valued at $5,755,174 in the last three months. 4.20% of the stock is currently owned by company insiders.

Penumbra Price Performance

NYSE:PEN opened at $312.41 on Friday. The company has a 50 day moving average price of $269.05 and a 200-day moving average price of $259.15. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 74.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.66. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $315.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

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

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.