New Age Alpha Advisors LLC Sells 3,342 Shares of Penumbra, Inc. (NYSE:PEN)

Key Points

• New Age Alpha Advisors LLC decreased its stake in Penumbra, Inc. by 39.8%, now holding 5,056 shares valued at approximately $1.35 million as of the end of the first quarter.
• Insiders at Penumbra have recently sold a total of 99,085 shares worth about $25.7 million, representing a significant reduction in their ownership positions.
• Penumbra's stock is currently trading around $240.13 with a market capitalization of $9.37 billion, and it recently reported an earnings per share (EPS) of $0.86 for the last quarter, exceeding analyst estimates.

New Age Alpha Advisors LLC lowered its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 39.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,056 shares of the company's stock after selling 3,342 shares during the period. New Age Alpha Advisors LLC's holdings in Penumbra were worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Synergy Investment Management LLC purchased a new position in shares of Penumbra in the first quarter worth approximately $27,000. First Horizon Advisors Inc. raised 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 during the period. Versant Capital Management Inc lifted its holdings in shares of Penumbra by 893.5% in the first 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. Meeder Asset Management Inc. lifted its holdings in shares of Penumbra by 1,966.7% in the first 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. Finally, UMB Bank n.a. grew its holdings in shares of Penumbra by 110.4% during the first quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 900 shares of Penumbra stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $298.55, for a total value of $268,695.00. Following the transaction, the executive vice president owned 65,314 shares of the company's stock, valued at $19,499,494.70. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 16,600 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 115,115 shares of company stock worth $29,476,845. Insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PEN shares. Truist Financial set a $310.00 price objective on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. William Blair raised shares of Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada cut their target price on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Four research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $300.47.

Penumbra Stock Up 0.1%

NYSE PEN traded up $0.19 during trading on Friday, reaching $240.93. The company's stock had a trading volume of 280,040 shares, compared to its average volume of 535,241. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.40 billion, a PE ratio of 64.08, a PEG ratio of 2.16 and a beta of 0.40. The business has a 50-day moving average price of $246.70 and a 200-day moving average price of $266.33. Penumbra, Inc. has a 1-year low of $166.64 and a 1-year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating 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 company had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same quarter last year, the firm posted $0.64 earnings per share. The company's quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Penumbra 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.