Algert Global LLC Buys 12,830 Shares of Penumbra, Inc. $PEN

Algert Global LLC lifted its stake in Penumbra, Inc. (NYSE:PEN) by 38.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,875 shares of the company’s stock after buying an additional 12,830 shares during the period. Algert Global LLC owned about 0.12% of Penumbra worth $11,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. bought a new position in shares of Penumbra during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in Penumbra during the second quarter worth about $30,000. Rothschild Investment LLC bought a new stake in Penumbra during the third quarter worth about $40,000. Covestor Ltd increased its holdings in shares of Penumbra by 53.0% during the third 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. Finally, State of Wyoming acquired a new stake in shares of Penumbra during the second quarter worth approximately $64,000. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Performance

Shares of PEN opened at $336.05 on Monday. The firm has a 50-day moving average of $340.38 and a 200-day moving average of $298.00. The company has a market cap of $13.19 billion, a PE ratio of 74.35, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). The business had revenue of $385.39 million for the quarter, compared to analyst estimates of $367.18 million. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. As a group, equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas Wilder sold 186 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total value of $57,793.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,804 shares of company stock worth $948,419 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the topic of a number of research analyst reports. Truist Financial lowered Penumbra from a “buy” rating to a “hold” rating and increased their price target for the stock from $370.00 to $374.00 in a research report on Friday, January 16th. Citigroup lowered Penumbra from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $350.00 to $374.00 in a research note on Thursday, January 15th. Wells Fargo & Company reiterated an “equal weight” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, January 15th. Leerink Partners lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Needham & Company LLC cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $361.69.

About Penumbra

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.