Rhumbline Advisers Acquires 849 Shares of Penumbra, Inc. (NYSE:PEN)

Rhumbline Advisers increased its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,386 shares of the company’s stock after purchasing an additional 849 shares during the period. Rhumbline Advisers owned approximately 0.29% of Penumbra worth $26,214,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. New York State Teachers Retirement System lifted its stake in Penumbra by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 37,654 shares of the company’s stock valued at $8,942,000 after acquiring an additional 148 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Penumbra by 39.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock valued at $71,831,000 after acquiring an additional 85,284 shares in the last quarter. Savant Capital LLC lifted its stake in Penumbra by 8.0% in the 4th quarter. Savant Capital LLC now owns 2,981 shares of the company’s stock valued at $708,000 after acquiring an additional 221 shares in the last quarter. 17 Capital Partners LLC bought a new stake in Penumbra in the 4th quarter valued at approximately $229,000. Finally, WCM Investment Management LLC bought a new stake in Penumbra in the 4th quarter valued at approximately $13,451,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

NYSE:PEN opened at $303.55 on Thursday. The stock has a fifty day moving average price of $256.15 and a 200-day moving average price of $225.97. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 352.97, a PEG ratio of 1.97 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm 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 8.99% and a net margin of 2.97%. As a group, equities analysts anticipate that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

PEN has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Wednesday. BTIG Research upped 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. JPMorgan Chase & Co. upped their price objective on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer started coverage on Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Finally, Royal Bank of Canada upped their price objective on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $292.64.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. This represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 in the last ninety days. 5.00% of the stock is owned by insiders.

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.