Penumbra, Inc. (NYSE:PEN) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Penumbra, Inc. (NYSE:PEN) by 3,832.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 368,298 shares of the company’s stock after acquiring an additional 358,932 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Penumbra were worth $71,564,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PEN. GAMMA Investing LLC increased its stake in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the period. WASHINGTON TRUST Co acquired a new position in Penumbra during the 2nd quarter worth approximately $54,000. Park Place Capital Corp raised its stake in shares of Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after buying an additional 369 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Penumbra by 808.9% in the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company’s stock valued at $92,000 after buying an additional 453 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PEN shares. BTIG Research increased their price objective on Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada increased their price target on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler raised their price objective on shares of Penumbra from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup upped their target price on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Finally, Robert W. Baird lifted their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the completion of the transaction, the chief executive officer now directly owns 925,962 shares in the company, valued at approximately $185,192,400. The trade was a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now owns 8,863 shares in the company, valued at $1,809,026.93. This trade represents a 8.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,768 shares of company stock valued at $6,787,530. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $237.84 on Monday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The business has a fifty day moving average of $207.29 and a 200-day moving average of $196.04. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 276.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the previous year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts predict that Penumbra, Inc. will post 2.79 earnings per share for the current fiscal year.

Penumbra declared that its board has approved a share buyback plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.