Abbot Financial Management Inc. Buys 143 Shares of Penumbra, Inc. (NYSE:PEN)

Abbot Financial Management Inc. increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,865 shares of the company’s stock after buying an additional 143 shares during the period. Abbot Financial Management Inc.’s holdings in Penumbra were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new position in shares of Penumbra in the 3rd quarter worth $26,000. UMB Bank n.a. lifted its holdings in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares in the last quarter. Mather Group LLC. raised its position in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Morgan Stanley raised their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.64.

Penumbra Trading Down 0.7 %

Shares of NYSE:PEN opened at $283.97 on Wednesday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The firm has a market capitalization of $10.94 billion, a P/E ratio of 835.19, a P/E/G ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The business’s 50-day moving average is $265.03 and its 200 day moving average is $233.89.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % 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 on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the transaction, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.