Farther Finance Advisors LLC Sells 2,122 Shares of Penumbra, Inc. $PEN

Farther Finance Advisors LLC trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 93.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 140 shares of the company’s stock after selling 2,122 shares during the quarter. Farther Finance Advisors LLC’s holdings in Penumbra were worth $35,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Penumbra during the 2nd quarter worth $30,000. Parkside Financial Bank & Trust boosted its position in shares of Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 66 shares during the last quarter. State of Wyoming acquired a new stake in shares of Penumbra during the second quarter worth $64,000. EverSource Wealth Advisors LLC increased its holdings in Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after purchasing an additional 184 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in Penumbra by 15,700.0% in the third quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $80,000 after buying an additional 314 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEN has been the subject of several analyst reports. Evercore ISI restated an “outperform” rating and set a $340.00 target price on shares of Penumbra in a research report on Monday, January 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $355.00 price objective on shares of Penumbra in a research note on Wednesday, December 17th. Citigroup raised shares of Penumbra from a “neutral” rating to a “buy” rating and upped their target price for the company from $285.00 to $350.00 in a research note on Thursday, December 11th. BTIG Research reiterated a “buy” rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, October 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Penumbra from $355.00 to $359.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.40.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 300 shares of Penumbra stock in a transaction on Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the sale, the executive vice president directly owned 63,836 shares in the company, valued at approximately $19,159,098.68. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Wilder sold 186 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total transaction of $57,793.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,144 shares of company stock valued at $10,260,127 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Stock Down 0.8%

Shares of Penumbra stock opened at $320.00 on Tuesday. The firm has a market cap of $12.53 billion, a PE ratio of 76.56, a P/E/G ratio of 1.97 and a beta of 0.71. The business’s 50 day simple moving average is $297.03 and its 200 day simple moving average is $267.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $325.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share 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 company had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. During the same period last year, the business earned $0.85 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.