First Trust Advisors LP Has $25.85 Million Position in Penumbra, Inc. $PEN

First Trust Advisors LP lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 4.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 100,723 shares of the company’s stock after purchasing an additional 3,906 shares during the period. First Trust Advisors LP owned 0.26% of Penumbra worth $25,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEN. Cetera Investment Advisers grew its holdings in Penumbra by 56.9% during the 1st quarter. Cetera Investment Advisers now owns 2,757 shares of the company’s stock worth $737,000 after acquiring an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Penumbra by 14.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,617 shares of the company’s stock worth $700,000 after acquiring an additional 331 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Penumbra by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock worth $75,897,000 after acquiring an additional 12,247 shares during the last quarter. Citigroup Inc. lifted its position in shares of Penumbra by 298.1% during the first quarter. Citigroup Inc. now owns 90,209 shares of the company’s stock worth $24,123,000 after purchasing an additional 67,548 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after purchasing an additional 572,606 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $292.98, for a total transaction of $29,298.00. Following the transaction, the director directly owned 8,416 shares in the company, valued at approximately $2,465,719.68. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 300 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,744 shares of company stock worth $5,755,174 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $302.89 on Thursday. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 72.46, a P/E/G ratio of 2.37 and a beta of 0.66. The firm’s 50 day simple moving average is $266.75 and its 200 day simple moving average is $258.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $310.00.

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. The firm had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. As a group, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PEN shares. Wall Street Zen cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Needham & Company LLC restated a “buy” rating and set a $326.00 target price on shares of Penumbra in a research report on Monday, October 27th. Evercore ISI reaffirmed an “outperform” rating and set a $286.00 price target on shares of Penumbra in a research note on Thursday, November 6th. Canaccord Genuity Group raised their price target on Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, BTIG Research reissued a “buy” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.69.

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.