Citizens Financial Group Inc. RI Takes Position in Penumbra, Inc. (NYSE:PEN)

Citizens Financial Group Inc. RI bought a new position in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 31,062 shares of the company’s stock, valued at approximately $5,590,000. Citizens Financial Group Inc. RI owned 0.08% of Penumbra as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Mather Group LLC. bought a new position in shares of Penumbra in the first quarter worth about $29,000. Quest Partners LLC bought a new stake in shares of Penumbra during the fourth quarter valued at approximately $71,000. WASHINGTON TRUST Co purchased a new position in shares of Penumbra in the second quarter worth $54,000. Headlands Technologies LLC bought a new position in shares of Penumbra during the first quarter worth $89,000. Finally, RiverPark Advisors LLC grew its stake in Penumbra by 360.9% during the first quarter. RiverPark Advisors LLC now owns 507 shares of the company’s stock valued at $113,000 after acquiring an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PEN. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Robert W. Baird cut their price target on Penumbra from $231.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Piper Sandler decreased their price objective on Penumbra from $260.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. BTIG Research raised their target price on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Canaccord Genuity Group decreased their price target on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.27.

Insiders Place Their Bets

In other news, Director Harpreet Grewal sold 782 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the sale, the director now directly owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at $11,162,009.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the sale, the director now directly owns 8,863 shares of the company’s stock, valued at approximately $1,809,026.93. The disclosure for this sale can be found here. Insiders have sold a total of 19,372 shares of company stock worth $3,888,852 over the last quarter. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $187.54 on Tuesday. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 79.13, a PEG ratio of 2.24 and a beta of 0.54. The firm’s 50-day moving average is $189.50 and its 200 day moving average is $200.14.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The firm had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts predict that Penumbra, Inc. will post 2.63 EPS for the current year.

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.