Wescott Financial Advisory Group LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 850 shares of the company’s stock, valued at approximately $223,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Penumbra by 1.1% during the second quarter. Principal Financial Group Inc. now owns 127,458 shares of the company’s stock worth $34,931,000 after buying an additional 1,424 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Penumbra during the second quarter worth $657,000. Skandinaviska Enskilda Banken AB publ increased its holdings in Penumbra by 2.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 6,546 shares of the company’s stock worth $1,794,000 after buying an additional 182 shares during the last quarter. Aigen Investment Management LP acquired a new position in Penumbra during the second quarter worth $558,000. Finally, Magnetar Financial LLC acquired a new position in Penumbra during the second quarter worth $281,000. Institutional investors and hedge funds own 80.61% of the company’s stock.
Several research firms have commented on PEN. Wells Fargo & Company reiterated a “buy” rating on shares of Penumbra in a report on Tuesday, June 8th. Citigroup upped their price objective on shares of Penumbra from $335.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Finally, BTIG Research upped their price objective on shares of Penumbra from $299.00 to $308.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra currently has a consensus rating of “Buy” and a consensus target price of $316.86.
Penumbra (NYSE:PEN) last announced its earnings results on Monday, August 9th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $184.26 million during the quarter, compared to analysts’ expectations of $170.77 million. Penumbra had a net margin of 2.37% and a return on equity of 5.52%. Penumbra’s quarterly revenue was up 75.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) earnings per share. Equities analysts predict that Penumbra, Inc. will post 0.87 earnings per share for the current year.
In related news, Director Thomas Wilder sold 161 shares of the company’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $275.09, for a total transaction of $44,289.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 2,500 shares of the company’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $263.14, for a total transaction of $657,850.00. Following the sale, the executive vice president now directly owns 37,937 shares of the company’s stock, valued at approximately $9,982,742.18. The disclosure for this sale can be found here. In the last three months, insiders sold 30,523 shares of company stock valued at $7,920,428. 7.50% of the stock is currently owned by company insiders.
Penumbra Company Profile
Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.
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