Oppenheimer Asset Management Inc. Has $1.92 Million Holdings in Penumbra, Inc. $PEN

Oppenheimer Asset Management Inc. trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,487 shares of the company’s stock after selling 510 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Penumbra were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Penumbra in the first quarter valued at approximately $259,000. GAMMA Investing LLC lifted its holdings in Penumbra by 59.0% during the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company’s stock valued at $190,000 after purchasing an additional 263 shares during the last quarter. Fortis Capital Advisors LLC bought a new position in Penumbra during the first quarter worth $732,000. Belpointe Asset Management LLC acquired a new position in shares of Penumbra in the first quarter valued at $732,000. Finally, Sheets Smith Investment Management bought a new position in shares of Penumbra in the first quarter valued at about $773,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 372 shares of Penumbra stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the transaction, the director directly owned 372 shares of the company’s stock, valued at $89,339.52. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arani Bose sold 12,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the sale, the director owned 558 shares of the company’s stock, valued at $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 64,460 shares of company stock worth $16,322,614. Corporate insiders own 4.20% of the company’s stock.

Penumbra Price Performance

Shares of NYSE PEN opened at $231.39 on Friday. The business has a fifty day moving average price of $259.19 and a two-hundred day moving average price of $260.01. The stock has a market capitalization of $9.02 billion, a PE ratio of 61.54, a P/E/G ratio of 2.10 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a fifty-two week low of $207.58 and a fifty-two week high of $310.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group set a $350.00 price objective on shares of Penumbra and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded Penumbra from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Wells Fargo & Company set a $290.00 price target on Penumbra in a research note on Wednesday, October 1st. Morgan Stanley upped their price objective on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Finally, William Blair raised Penumbra to a “strong-buy” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.94.

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.