Hantz Financial Services Inc. Sells 1,473 Shares of Penumbra, Inc. (NYSE:PEN)

Hantz Financial Services Inc. trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,036 shares of the company’s stock after selling 1,473 shares during the quarter. Hantz Financial Services Inc. owned 0.14% of Penumbra worth $10,305,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in shares of Penumbra in the 2nd quarter worth approximately $54,000. Park Place Capital Corp lifted its position in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. 88.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Robert W. Baird boosted their target price 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. Royal Bank of Canada boosted their target price on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group boosted their target price on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Truist Financial boosted their target price on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.92.

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares in the company, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 782 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the transaction, the director now owns 8,863 shares of the company’s stock, valued at approximately $1,809,026.93. The trade was a 8.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,748 shares of company stock worth $10,166,574. 5.00% of the stock is owned by company insiders.

Penumbra Stock Performance

NYSE PEN opened at $244.15 on Friday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 283.90, a PEG ratio of 2.46 and a beta of 0.51. The company has a fifty day moving average price of $215.77 and a 200-day moving average price of $198.27.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, equities research analysts predict that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Penumbra announced that its board has approved a stock buyback plan on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.