Quantinno Capital Management LP Purchases New Position in Penumbra, Inc. (NYSE:PEN)

Quantinno Capital Management LP acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 1,512 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after purchasing an additional 121,465 shares during the last quarter. Champlain Investment Partners LLC boosted its position in Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after buying an additional 264,122 shares in the last quarter. RTW Investments LP grew its stake in Penumbra by 7.2% during the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock worth $154,622,000 after buying an additional 53,645 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of 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 in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Penumbra by 3,832.3% in the third 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. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Penumbra news, CAO Lambert Shiu sold 654 shares of Penumbra stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $243.01, for a total transaction of $158,928.54. Following the transaction, the chief accounting officer now directly owns 20,028 shares in the company, valued at approximately $4,867,004.28. The trade was a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at approximately $11,538,690.88. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,418 shares of company stock worth $10,624,973. Insiders own 5.00% of the company’s stock.

Penumbra Trading Down 2.7 %

Shares of NYSE PEN opened at $245.55 on Monday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The firm has a market capitalization of $9.42 billion, a P/E ratio of 285.52, a P/E/G ratio of 2.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company’s 50 day simple moving average is $227.34 and its 200 day simple moving average is $201.86.

Penumbra (NYSE:PEN) 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. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the prior year, the business posted $0.67 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company upgraded Penumbra from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Robert W. Baird raised their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. BTIG Research increased their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada boosted their target price on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $252.42.

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.