New Age Alpha Advisors LLC Purchases 3,061 Shares of Penumbra, Inc. $PEN

Key Points

• New Age Alpha Advisors LLC increased its Penumbra stake by 57.6% in the fourth quarter, buying 3,061 shares and bringing its total holdings to 8,372 shares worth about $2.6 million.
• Penumbra reported Q1 earnings of $0.82 per share, which missed analyst expectations of $1.06, though revenue of $374.8 million came in above estimates and rose 15.6% year over year.
• Analyst sentiment remains cautious: the stock currently carries a Hold consensus rating, with 3 Buy ratings and 14 Hold ratings, and an average target price of $361.33.

New Age Alpha Advisors LLC increased its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 57.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,372 shares of the company's stock after buying an additional 3,061 shares during the quarter. New Age Alpha Advisors LLC's holdings in Penumbra were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company's stock worth $26,000 after buying an additional 82 shares during the last quarter. Morse Asset Management Inc bought a new stake in Penumbra in the 4th quarter worth approximately $39,000. Rothschild Investment LLC bought a new stake in Penumbra in the 3rd quarter worth approximately $40,000. Farther Finance Advisors LLC lifted its position in Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after buying an additional 38 shares during the last quarter. Finally, Covestor Ltd lifted its position in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company's stock worth $46,000 after buying an additional 62 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of PEN stock opened at $328.43 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock has a 50 day moving average price of $329.58 and a two-hundred day moving average price of $323.83. The company has a market capitalization of $12.92 billion, a P/E ratio of 75.68, a PEG ratio of 2.01 and a beta of 0.74.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of recent research reports. UBS Group restated a "neutral" rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. Citigroup dropped their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Evercore reiterated an "outperform" rating and issued a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded Penumbra to a "hold" rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $361.33.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the transaction, the director owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the transaction, the chief financial officer owned 18,353 shares of the company's stock, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company's stock.

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.

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