Hantz Financial Services Inc. Has $12.30 Million Stake in Penumbra, Inc. (NYSE:PEN)

Hantz Financial Services Inc. cut its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,792 shares of the company's stock after selling 1,244 shares during the quarter. Hantz Financial Services Inc. owned about 0.13% of Penumbra worth $12,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Janus Henderson Group PLC increased its position in Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock worth $129,967,000 after buying an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock valued at $71,564,000 after acquiring an additional 358,932 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock valued at $300,786,000 after acquiring an additional 264,122 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Penumbra in the 3rd quarter worth approximately $31,965,000. Finally, Braidwell LP grew its holdings in Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company's stock valued at $70,229,000 after purchasing an additional 148,834 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the transaction, the chief executive officer now owns 852,582 shares of the company's stock, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 167 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares of the company's stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,819 shares of company stock worth $8,129,483. Insiders own 5.00% of the company's stock.

Penumbra Trading Down 0.4 %

Shares of PEN traded down $0.97 on Wednesday, reaching $269.85. 371,690 shares of the company's stock were exchanged, compared to its average volume of 495,127. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.89. The stock has a market capitalization of $10.36 billion, a P/E ratio of 313.78, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $249.26 and a two-hundred day moving average price of $217.39.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. Research analysts anticipate that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Penumbra from $260.00 to $323.00 and gave the stock a "buy" rating in a report on Monday, December 9th. BTIG Research lifted their price objective on Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Piper Sandler increased their target price on Penumbra from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. Citigroup lifted their price target on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $261.36.

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.