Los Angeles Capital Management LLC Has $1.91 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Los Angeles Capital Management LLC grew its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 512.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,826 shares of the company’s stock after buying an additional 8,222 shares during the period. Los Angeles Capital Management LLC’s holdings in Penumbra were worth $1,909,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PEN. Vanguard Group Inc. boosted its stake in Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after acquiring an additional 32,557 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Penumbra by 131.8% during the first quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after purchasing an additional 616,700 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Penumbra by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after purchasing an additional 4,814 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Penumbra by 96.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after buying an additional 126,392 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Penumbra by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,113 shares of the company’s stock valued at $41,604,000 after buying an additional 3,973 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the sale, the chief executive officer now owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $204.56, for a total transaction of $3,068,400.00. Following the completion of the transaction, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harpreet Grewal sold 782 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total value of $159,614.02. Following the completion of the sale, the director now owns 8,863 shares in the company, valued at approximately $1,809,026.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,768 shares of company stock worth $6,787,530. 5.00% of the stock is owned by company insiders.

Penumbra Price Performance

Shares of NYSE PEN opened at $236.15 on Thursday. The company has a market capitalization of $9.06 billion, a PE ratio of 274.59, a PEG ratio of 2.39 and a beta of 0.51. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $205.34 and its 200-day moving average price is $195.25. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Penumbra, Inc. will post 2.79 EPS for the current year.

Penumbra declared that its board has authorized a stock repurchase program on Tuesday, August 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PEN shares. Truist Financial raised their price objective on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada lifted their price target on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Stifel Nicolaus assumed coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. Wells Fargo & Company cut shares of Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $289.00 to $150.00 in a report on Wednesday, July 31st. Finally, Piper Sandler upped their target price on shares of Penumbra from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and an average price target of $226.67.

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.