Penumbra, Inc. (NYSE:PEN) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its stake in Penumbra, Inc. (NYSE:PEN) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,720 shares of the company’s stock after selling 368 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of Penumbra worth $4,220,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. WASHINGTON TRUST Co bought a new stake in shares of Penumbra in the 2nd quarter valued at approximately $54,000. Park Place Capital Corp raised its position in shares of Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. Institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research reports. Robert W. Baird increased their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Leerink Partners assumed coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective on the stock. Piper Sandler lifted their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Citigroup upped their target price on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group raised their price target on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average target price of $230.92.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00. Following the transaction, the executive vice president now owns 61,088 shares in the company, valued at $12,597,567.36. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $3,559,200.00. Following the sale, the chief executive officer now directly owns 852,582 shares in the company, valued at approximately $202,300,656.96. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,748 shares of company stock worth $10,166,574. 5.00% of the stock is owned by corporate insiders.

Penumbra Stock Down 0.0 %

Shares of Penumbra stock opened at $244.12 on Monday. 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 1-year low of $148.00 and a 1-year high of $277.34. The business’s fifty day moving average price is $216.76 and its two-hundred day moving average price is $198.44. The company has a market capitalization of $9.37 billion, a P/E ratio of 283.86, a PEG ratio of 2.46 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its quarterly earnings data 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 business had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 earnings per share. As a group, research analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra declared that its board has initiated a share repurchase program on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Penumbra Company 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.