Natixis Advisors LLC Purchases 6,492 Shares of Penumbra, Inc. (NYSE:PEN)

Key Points

• Natixis Advisors LLC increased its holdings in Penumbra, Inc. by 23.0% in the first quarter, owning 34,690 shares worth approximately $9.28 million.
• Insider selling was notable, with EVP Johanna Roberts and CEO Adam Elsesser selling shares valued at a total of $5.1 million in recent transactions.
• Penumbra's stock recently traded at $239.63, with a market cap of $9.35 billion and a consensus rating of "Moderate Buy" with an average price target of $300.47.

Natixis Advisors LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 23.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,690 shares of the company's stock after acquiring an additional 6,492 shares during the period. Natixis Advisors LLC owned 0.09% of Penumbra worth $9,276,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Synergy Investment Management LLC bought a new stake in Penumbra during the 1st quarter valued at $27,000. First Horizon Advisors Inc. increased its stake in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after purchasing an additional 85 shares in the last quarter. Huntington National Bank increased its stake in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc increased its stake in Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after purchasing an additional 277 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Penumbra by 1,966.7% during the 1st quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Performance

NYSE:PEN traded down $0.05 on Wednesday, reaching $240.05. 340,012 shares of the company's stock were exchanged, compared to its average volume of 505,073. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 63.84, a P/E/G ratio of 2.16 and a beta of 0.40. Penumbra, Inc. has a 52 week low of $163.63 and a 52 week high of $310.00. The stock has a fifty day simple moving average of $248.21 and a 200-day simple moving average of $266.94.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The company's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 16,600 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $298.22, for a total transaction of $4,950,452.00. Following the transaction, the chief executive officer directly owned 86,613 shares in the company, valued at $25,829,728.86. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 900 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $298.55, for a total transaction of $268,695.00. Following the transaction, the executive vice president owned 65,314 shares in the company, valued at $19,499,494.70. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,085 shares of company stock worth $25,658,499 over the last ninety days. Insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of recent research reports. Truist Financial set a $310.00 price target on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley boosted their price target on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Finally, UBS Group set a $335.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $300.47.

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.