Victory Capital Management Inc. Has $1.70 Million Stake in Penumbra, Inc. (NYSE:PEN)

Victory Capital Management Inc. trimmed its position in Penumbra, Inc. (NYSE:PEN) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,165 shares of the company’s stock after selling 171 shares during the quarter. Victory Capital Management Inc.’s holdings in Penumbra were worth $1,702,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Pallas Capital Advisors LLC raised its stake in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after purchasing an additional 41 shares in the last quarter. Advisors Asset Management Inc. grew its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the period. Pacer Advisors Inc. grew its position in Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after acquiring an additional 57 shares during the period. CIBC Asset Management Inc grew its position in Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock valued at $281,000 after acquiring an additional 61 shares during the period. Finally, UMB Bank n.a. grew its position in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Down 0.2 %

PEN stock opened at $275.40 on Wednesday. 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 twelve month low of $148.00 and a twelve month high of $310.00. The business has a 50 day moving average price of $271.17 and a two-hundred day moving average price of $238.92. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 810.01, a P/E/G ratio of 2.83 and a beta of 0.51.

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

Insider Buying and Selling

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,243 shares of the company’s stock, valued at $4,359,498. The trade was a 11.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the transaction, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at $9,326,270.72. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,918 shares of company stock valued at $22,054,293. Insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PEN shares. Wells Fargo & Company upped their price target on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, UBS Group increased their target price on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $294.47.

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.