12,600 Shares in Penumbra, Inc. $PEN Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,600 shares of the company’s stock, valued at approximately $3,192,000. Penumbra accounts for about 0.7% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also made changes to their positions in the business. Royal Bank of Canada boosted its position in Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after buying an additional 5,092 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Penumbra by 53.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,999 shares of the company’s stock valued at $1,255,000 after acquiring an additional 1,748 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Penumbra in the second quarter valued at $408,000. Janney Montgomery Scott LLC grew its stake in Penumbra by 716.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 24,749 shares of the company’s stock worth $6,351,000 after purchasing an additional 21,718 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Penumbra during the 2nd quarter worth about $1,333,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 0.1%

PEN opened at $359.19 on Wednesday. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. The stock has a market capitalization of $14.07 billion, a P/E ratio of 85.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71. The business’s 50-day simple moving average is $314.63 and its 200-day simple moving average is $275.28.

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

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 300 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $300.13, for a total value of $90,039.00. Following the transaction, the executive vice president owned 63,836 shares in the company, valued at $19,159,098.68. The trade was a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arani Bose sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the sale, the director directly owned 258,462 shares of the company’s stock, valued at approximately $79,818,234.84. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,144 shares of company stock worth $10,260,127 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Monday, December 29th. JPMorgan Chase & Co. upgraded shares of Penumbra from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $275.00 to $370.00 in a report on Thursday, December 18th. Truist Financial lowered shares of Penumbra from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $374.00 in a report on Friday, January 16th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $374.00 price objective (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of “Hold” and a consensus target price of $358.00.

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.