Farther Finance Advisors LLC Raises Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Farther Finance Advisors LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 606.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445 shares of the company’s stock after purchasing an additional 382 shares during the quarter. Farther Finance Advisors LLC’s holdings in Penumbra were worth $121,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CIBC Asset Management Inc grew its holdings in Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock valued at $281,000 after purchasing an additional 61 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of Penumbra in the 4th quarter worth about $1,815,000. Olympiad Research LP purchased a new stake in shares of Penumbra during the 4th quarter valued at about $253,000. Bank of New York Mellon Corp raised its holdings in shares of Penumbra by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 294,620 shares of the company’s stock valued at $69,966,000 after buying an additional 1,823 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Penumbra by 211.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 30,582 shares of the company’s stock worth $7,263,000 after purchasing an additional 20,756 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.1%

NYSE:PEN opened at $256.75 on Friday. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 242.22, a PEG ratio of 2.29 and a beta of 0.49. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a current ratio of 6.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $274.48 and its 200 day moving average price is $267.56.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The firm had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other news, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares in the company, valued at $1,199,341.14. The trade was a 7.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 16,565 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total value of $4,509,655.60. Following the completion of the sale, the chief executive officer now directly owns 52,495 shares of the company’s stock, valued at $14,291,238.80. This represents a 23.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,205 shares of company stock worth $35,823,774. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Robert W. Baird boosted their price objective on Penumbra from $316.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Bank of America began coverage on Penumbra in a research report on Friday, March 14th. They set a “buy” rating and a $320.00 price target for the company. BTIG Research reiterated a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the company a “buy” rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $302.40.

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.