4,000 Shares in Penumbra, Inc. (NYSE:PEN) Purchased by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,000 shares of the company’s stock, valued at approximately $777,000.

Several other large investors also recently bought and sold shares of PEN. GAMMA Investing LLC grew its stake in shares of Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares in the last quarter. WASHINGTON TRUST Co bought a new position in shares of Penumbra during the 2nd quarter valued at approximately $54,000. Park Place Capital Corp raised its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after buying an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Penumbra in the 1st quarter worth about $89,000. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Truist Financial lifted their price target on shares of Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley reduced their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company downgraded shares of Penumbra from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $289.00 to $150.00 in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus began coverage on shares of Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and an average target price of $226.67.

Penumbra Price Performance

PEN opened at $229.51 on Tuesday. The company’s 50-day moving average price is $201.36 and its 200 day moving average price is $193.93. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 266.87, a price-to-earnings-growth ratio of 2.54 and a beta of 0.51. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. As a group, sell-side analysts expect that Penumbra, Inc. will post 2.72 earnings per share for the current year.

Penumbra declared that its board has authorized a share repurchase plan on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at $10,855,854.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 1,620 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $200.00, for a total transaction of $324,000.00. Following the completion of the transaction, the chief executive officer now owns 925,962 shares in the company, valued at $185,192,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,368 shares of company stock valued at $6,893,118 over the last 90 days. 5.00% of the stock is owned by company insiders.

About Penumbra

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.