Marshall Wace LLP Purchases 42,130 Shares of Penumbra, Inc. (NYSE:PEN)

Marshall Wace LLP grew its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 2,312.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,952 shares of the company’s stock after acquiring an additional 42,130 shares during the quarter. Marshall Wace LLP owned 0.11% of Penumbra worth $10,438,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Penumbra during the fourth quarter valued at about $54,396,000. Baillie Gifford & Co. grew its position in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after acquiring an additional 138,387 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock valued at $71,831,000 after purchasing an additional 85,284 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of Penumbra during the fourth quarter valued at approximately $13,451,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Penumbra in the third quarter worth approximately $6,995,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Price Performance

Shares of NYSE PEN opened at $270.53 on Tuesday. The firm has a market cap of $10.47 billion, a P/E ratio of 795.68, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $275.53 and a 200 day moving average of $252.59.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America started coverage on Penumbra in a research report on Friday, March 14th. They set a “buy” rating and a $320.00 price target for the company. Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. UBS Group raised their target price on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group boosted their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $293.93.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares of the company’s stock, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the transaction, the chief financial officer now directly owns 15,243 shares in the company, valued at $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,846 shares of company stock worth $35,779,187. Company insiders own 5.00% of the company’s stock.

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.