Washington Capital Management Inc. Takes Position in Penumbra, Inc. (NYSE:PEN)

Washington Capital Management Inc. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 950 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC grew its position in shares of Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after buying an additional 62 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Penumbra by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 106,815 shares of the company’s stock worth $19,223,000 after acquiring an additional 3,683 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares during the period. Handelsbanken Fonder AB increased its stake in Penumbra by 17.7% in the third quarter. Handelsbanken Fonder AB now owns 10,658 shares of the company’s stock valued at $2,071,000 after purchasing an additional 1,600 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the sale, the executive vice president now owns 64,044 shares in the company, valued at $15,353,908.56. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the sale, the chief executive officer now owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,819 shares of company stock valued at $8,129,483. 5.00% of the stock is owned by insiders.

Penumbra Trading Down 0.4 %

Penumbra stock opened at $269.85 on Thursday. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 313.78, a P/E/G ratio of 2.02 and a beta of 0.52. The firm has a 50-day moving average of $249.26 and a 200-day moving average of $217.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.89.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEN shares. Canaccord Genuity Group boosted their price target on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada increased their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Robert W. Baird lifted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler increased their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, BTIG Research lifted their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.36.

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.