Qsemble Capital Management LP Buys Shares of 1,246 Penumbra, Inc. (NYSE:PEN)

Qsemble Capital Management LP bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,246 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PEN. Silvercrest Asset Management Group LLC lifted its stake in Penumbra by 3.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock valued at $375,000 after acquiring an additional 55 shares during the period. Tidal Investments LLC lifted its stake in Penumbra by 276.9% during the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after acquiring an additional 3,652 shares during the period. Virtu Financial LLC lifted its stake in Penumbra by 61.6% during the 1st quarter. Virtu Financial LLC now owns 4,011 shares of the company’s stock valued at $895,000 after acquiring an additional 1,529 shares during the period. First Hawaiian Bank bought a new position in Penumbra during the 2nd quarter valued at about $1,597,000. Finally, CWM LLC increased its position in shares of Penumbra by 215.7% during the 2nd quarter. CWM LLC now owns 1,550 shares of the company’s stock valued at $279,000 after purchasing an additional 1,059 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

PEN has been the subject of several research reports. Truist Financial upped their price target 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. Citigroup upped their price target on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Royal Bank of Canada upped their price target 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Finally, Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $230.92.

Penumbra Stock Performance

Shares of PEN stock opened at $244.15 on Thursday. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 283.90, a PEG ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $214.90 and its 200 day moving average is $197.95.

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

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

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the sale, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at $11,538,690.88. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the sale, the chief executive officer now directly owns 882,582 shares of the company’s stock, valued at approximately $174,495,287.22. This represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,748 shares of company stock worth $10,166,574 in the last ninety days. 5.00% of the stock is owned by insiders.

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.