Washington Capital Management Inc. Buys Shares of 950 Penumbra, Inc. (NYSE:PEN)

Washington Capital Management Inc. purchased a new position in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 950 shares of the company’s stock, valued at approximately $226,000.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC bought a new position in Penumbra during the third quarter worth $26,000. GAMMA Investing LLC grew its position in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the period. Park Place Capital Corp raised its position in shares of Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after buying an additional 339 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEN. Wells Fargo & Company upgraded Penumbra from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $190.00 to $275.00 in a research note on Wednesday, December 11th. Oppenheimer started coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Robert W. Baird raised their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial boosted their price target on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup increased their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.36.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.74, for a total transaction of $143,844.00. Following the sale, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at $15,353,908.56. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,819 shares of company stock worth $8,129,483. Insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $269.85 on Thursday. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.89. The company has a 50 day moving average of $249.26 and a 200-day moving average of $217.39. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 313.78, a PEG ratio of 2.02 and a beta of 0.52.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, equities analysts forecast that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal 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.