FIL Ltd Raises Stock Position in Penumbra, Inc. (NYSE:PEN)

FIL Ltd lifted its stake in Penumbra, Inc. (NYSE:PEN) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,723 shares of the company’s stock after buying an additional 282 shares during the period. FIL Ltd owned approximately 0.16% of Penumbra worth $14,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEN. Employees Retirement System of Texas boosted its position in shares of Penumbra by 31.9% in the 4th quarter. Employees Retirement System of Texas now owns 5,273 shares of the company’s stock valued at $1,252,000 after purchasing an additional 1,274 shares during the period. Cerity Partners LLC boosted its stake in Penumbra by 66.1% during the 4th quarter. Cerity Partners LLC now owns 5,999 shares of the company’s stock worth $1,400,000 after purchasing an additional 2,387 shares during the period. Quadrant Capital Group LLC grew its position in Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after purchasing an additional 39 shares during the last quarter. Russell Investments Group Ltd. increased its position in Penumbra by 830.2% in the 4th quarter. Russell Investments Group Ltd. now owns 19,989 shares of the company’s stock valued at $4,747,000 after acquiring an additional 17,840 shares during the period. Finally, Hurley Capital LLC purchased a new stake in Penumbra during the 4th quarter valued at approximately $56,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Performance

NYSE PEN opened at $272.44 on Friday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The business has a fifty day moving average of $274.33 and a 200-day moving average of $248.80. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 801.28, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Elsesser sold 16,565 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total transaction of $4,509,655.60. Following the completion of the sale, the chief executive officer now directly owns 52,495 shares of the company’s stock, valued at $14,291,238.80. The trade was a 23.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Wilder sold 360 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares in the company, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,236 shares of company stock valued at $31,222,390 over the last quarter. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PEN. Bank of America began coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 target price on the stock. Oppenheimer initiated coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target on the stock. Canaccord Genuity Group increased their target price on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their price target on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada increased their price objective on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $293.80.

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.