Quantinno Capital Management LP Acquires Shares of 1,512 Penumbra, Inc. (NYSE:PEN)

Quantinno Capital Management LP bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,512 shares of the company’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also modified their holdings of PEN. RTW Investments LP boosted its position in Penumbra by 7.2% during the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after purchasing an additional 53,645 shares during the last quarter. Redmile Group LLC purchased a new stake in shares of Penumbra during the 3rd quarter worth about $2,691,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Penumbra during the 3rd quarter valued at about $21,475,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Penumbra during the 3rd quarter valued at about $304,000. Finally, Janus Henderson Group PLC grew its stake in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after buying an additional 375,684 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEN has been the topic of several recent research reports. BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus started coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Truist Financial raised their target price on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada boosted their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average target price of $252.42.

Insider Activity

In other news, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now directly owns 20,682 shares in the company, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,418 shares of company stock valued at $10,624,973. Insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

PEN opened at $245.55 on Monday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The firm has a market capitalization of $9.42 billion, a P/E ratio of 285.52, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The stock’s 50 day moving average price is $227.34 and its two-hundred day moving average price is $201.86. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The business had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. On average, equities analysts forecast that Penumbra, Inc. will post 2.81 earnings per share for the current year.

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.