Townsquare Capital LLC Sells 249 Shares of Penumbra, Inc. (NYSE:PEN)

Townsquare Capital LLC cut its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,915 shares of the company’s stock after selling 249 shares during the period. Townsquare Capital LLC’s holdings in Penumbra were worth $3,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC boosted its stake in Penumbra by 2.1% during the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after purchasing an additional 121,465 shares during the last quarter. Qsemble Capital Management LP purchased a new position in shares of Penumbra during the third quarter valued at approximately $242,000. Loomis Sayles & Co. L P raised its position in Penumbra by 13.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 112,383 shares of the company’s stock valued at $21,837,000 after buying an additional 13,534 shares during the last quarter. Cerity Partners LLC lifted its stake in Penumbra by 19.2% during the 3rd quarter. Cerity Partners LLC now owns 3,612 shares of the company’s stock valued at $702,000 after acquiring an additional 583 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after acquiring an additional 264,122 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the sale, the chief executive officer now owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total value of $159,614.02. Following the transaction, the director now directly owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The trade was a 8.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,748 shares of company stock worth $10,166,574 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Penumbra Trading Up 0.2 %

Shares of Penumbra stock opened at $244.73 on Friday. The stock has a market capitalization of $9.39 billion, a P/E ratio of 284.56, a P/E/G ratio of 2.46 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock’s 50-day simple moving average is $216.76 and its 200 day simple moving average is $198.55.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. As a group, research analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra declared that its Board of Directors has approved a stock buyback program on Tuesday, August 13th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PEN shares. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Leerink Partners initiated coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price on the stock. Piper Sandler upped their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Finally, BTIG Research upped their price objective on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.92.

Penumbra Company 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.