Optimize Financial Inc Invests $382,000 in Penumbra, Inc. $PEN

Optimize Financial Inc bought a new position in Penumbra, Inc. (NYSE:PEN) in the third quarter, Holdings Channel.com reports. The firm bought 1,509 shares of the company’s stock, valued at approximately $382,000.

A number of other hedge funds also recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after purchasing an additional 5,092 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Penumbra by 6.1% during the second quarter. QRG Capital Management Inc. now owns 1,918 shares of the company’s stock worth $492,000 after buying an additional 110 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Penumbra by 5.6% during the second quarter. Belpointe Asset Management LLC now owns 2,890 shares of the company’s stock worth $742,000 after buying an additional 154 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Penumbra by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $2,797,000 after acquiring an additional 100 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Penumbra by 62.0% in the 2nd quarter. Blair William & Co. IL now owns 10,564 shares of the company’s stock valued at $2,711,000 after acquiring an additional 4,042 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Price Performance

Penumbra stock opened at $341.45 on Friday. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 81.69, a PEG ratio of 2.09 and a beta of 0.82. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. The stock’s 50 day moving average price is $323.20 and its two-hundred day moving average price is $280.48.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

PEN has been the subject of several research reports. UBS Group downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Evercore ISI reiterated an “outperform” rating and issued a $340.00 price objective on shares of Penumbra in a report on Monday, January 5th. JPMorgan Chase & Co. upgraded shares of Penumbra from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $275.00 to $370.00 in a research report on Thursday, December 18th. Citigroup cut shares of Penumbra from a “buy” rating to a “neutral” rating and upped their price target for the company from $350.00 to $374.00 in a research report on Thursday, January 15th. Finally, Canaccord Genuity Group downgraded shares of Penumbra from a “buy” rating to a “hold” rating and raised their price target for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $358.00.

Insider Transactions at Penumbra

In other Penumbra news, Director Arani Bose sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the transaction, the director directly owned 258,462 shares of the company’s stock, valued at approximately $79,818,234.84. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the transaction, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,772 shares of company stock valued at $10,175,467 in the last 90 days. 4.20% of the stock is currently owned by company insiders.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.