Sei Investments Co. Has $14.49 Million Stake in Penumbra, Inc. (NYSE:PEN)

Sei Investments Co. raised its stake in Penumbra, Inc. (NYSE:PEN) by 103.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,490 shares of the company’s stock after purchasing an additional 40,985 shares during the quarter. Sei Investments Co. owned 0.21% of Penumbra worth $14,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Penumbra by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock valued at $29,893,000 after buying an additional 8,122 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Penumbra by 50.6% during the fourth quarter. Corient Private Wealth LLC now owns 3,715 shares of the company’s stock valued at $934,000 after purchasing an additional 1,249 shares in the last quarter. Quest Partners LLC purchased a new position in Penumbra during the fourth quarter worth about $71,000. Intech Investment Management LLC bought a new stake in Penumbra in the 4th quarter worth about $340,000. Finally, TD Asset Management Inc increased its stake in Penumbra by 3.6% in the 4th quarter. TD Asset Management Inc now owns 136,514 shares of the company’s stock valued at $34,339,000 after buying an additional 4,780 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Robert W. Baird lowered their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company lowered shares of Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $289.00 to $150.00 in a research report on Wednesday, July 31st. Canaccord Genuity Group dropped their target price on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, BTIG Research raised their price target on shares of Penumbra from $187.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.00.

Penumbra Stock Up 2.5 %

Shares of NYSE PEN opened at $191.63 on Friday. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $7.43 billion, a P/E ratio of 80.86, a P/E/G ratio of 2.22 and a beta of 0.54. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34. The business has a 50-day simple moving average of $190.01 and a two-hundred day simple moving average of $197.78.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. Penumbra’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. Research analysts anticipate that Penumbra, Inc. will post 2.59 earnings per share for the current fiscal year.

Penumbra declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the sale, the chief executive officer now owns 882,582 shares in the company, valued at $174,495,287.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the transaction, the chief executive officer now owns 882,582 shares of the company’s stock, valued at $174,495,287.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the sale, the director now directly owns 8,863 shares in the company, valued at $1,809,026.93. The disclosure for this sale can be found here. Insiders sold 34,372 shares of company stock worth $6,854,502 in the last three months. Corporate insiders own 5.00% of the company’s stock.

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.