Thrivent Financial for Lutherans Purchases 44,185 Shares of Penumbra, Inc. $PEN

Thrivent Financial for Lutherans increased its position in Penumbra, Inc. (NYSE:PEN) by 13.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,062 shares of the company’s stock after buying an additional 44,185 shares during the quarter. Thrivent Financial for Lutherans owned 0.94% of Penumbra worth $92,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. purchased a new position in shares of Penumbra during the third quarter worth approximately $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Penumbra during the 2nd quarter valued at $30,000. Parkside Financial Bank & Trust raised its position in 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 period. Covestor Ltd lifted its stake in Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after purchasing an additional 62 shares during the last quarter. Finally, State of Wyoming bought a new stake in Penumbra in the second quarter worth $64,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada downgraded Penumbra from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $355.00 to $374.00 in a report on Tuesday, January 20th. BTIG Research lowered Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price target on the stock. in a research report on Thursday, January 15th. Leerink Partners cut Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. William Blair downgraded Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Finally, Wall Street Zen cut shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Four investment 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $358.00.

Penumbra Stock Performance

Shares of PEN stock opened at $358.27 on Monday. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 85.71, a PEG ratio of 2.20 and a beta of 0.81. The stock has a fifty day moving average of $319.08 and a 200 day moving average of $277.85. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings data 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. 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 the consensus estimate of $340.77 million. During the same period in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current 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.