Ethic Inc. Makes New $590,000 Investment in Penumbra, Inc. $PEN

Ethic Inc. acquired a new position in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,898 shares of the company’s stock, valued at approximately $590,000.

A number of other institutional investors have also recently added to or reduced their stakes in PEN. Morse Asset Management Inc acquired a new position in Penumbra in the 4th quarter worth $39,000. Rothschild Investment LLC acquired a new position in Penumbra in the 3rd quarter worth $40,000. Covestor Ltd lifted its holdings in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after buying an additional 62 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after buying an additional 38 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Penumbra by 36.2% in the 3rd quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of Penumbra stock opened at $322.24 on Friday. The firm has a market cap of $12.67 billion, a PE ratio of 74.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. The firm’s 50-day simple moving average is $330.98 and its 200-day simple moving average is $318.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $342.30, for a total transaction of $832,473.60. Following the sale, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PEN shares. Leerink Partners lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. UBS Group restated a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, February 26th. Truist Financial lowered shares of Penumbra from a “buy” rating to a “hold” rating and upped their target price for the company from $370.00 to $374.00 in a research note on Friday, January 16th. Canaccord Genuity Group lowered shares of Penumbra from a “buy” rating to a “hold” rating and upped their target price for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Finally, Citigroup cut their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $361.33.

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.