22,410 Shares in Penumbra, Inc. (NYSE:PEN) Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,410 shares of the company’s stock, valued at approximately $4,033,000. Susquehanna Fundamental Investments LLC owned 0.06% of Penumbra as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Silvercrest Asset Management Group LLC boosted its holdings in shares of Penumbra by 3.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares during the period. ProShare Advisors LLC boosted its stake in shares of Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after buying an additional 62 shares during the period. Arcadia Investment Management Corp MI grew its holdings in shares of Penumbra by 7.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after acquiring an additional 74 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Penumbra by 0.3% in the first quarter. Retirement Systems of Alabama now owns 48,467 shares of the company’s stock worth $10,817,000 after acquiring an additional 127 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Penumbra during the first quarter worth $29,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, August 13th. The shares were 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 approximately $10,855,854.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now directly owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 directly owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. The disclosure for this sale can be found here. Insiders sold a total of 33,602 shares of company stock valued at $6,716,384 over the last ninety days. Insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Shares of PEN stock opened at $191.55 on Monday. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 80.82, a PEG ratio of 2.18 and a beta of 0.54. The firm’s 50 day moving average is $190.06 and its 200-day moving average is $196.84. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. Sell-side analysts forecast that Penumbra, Inc. will post 2.59 EPS for the current fiscal year.

Penumbra declared that its board has authorized a stock buyback program on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lowered their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada cut their price target on Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Citigroup raised their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.00.

Penumbra 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.