Blair William & Co. IL Acquires 2,782 Shares of Penumbra, Inc. (NYSE:PEN)

Key Points

• Blair William & Co. IL significantly increased its holdings in Penumbra, Inc. by 74.4% during Q1, acquiring an additional 2,782 shares, bringing its total to 6,522 shares valued at $1,744,000.
• Multiple institutional investors have also increased their stakes in Penumbra, including Russell Investments Group, which raised its holdings by an astounding 830.2% in the last quarter.
• Penumbra reported a 13.4% year-over-year revenue increase with $339.46 million for the quarter and beat earnings expectations with an EPS of $0.86, surpassing the consensus estimate of $0.81.

Blair William & Co. IL increased its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 74.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,522 shares of the company's stock after purchasing an additional 2,782 shares during the quarter. Blair William & Co. IL's holdings in Penumbra were worth $1,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEN. LPL Financial LLC grew its stake in shares of Penumbra by 4.0% in the fourth quarter. LPL Financial LLC now owns 9,486 shares of the company's stock worth $2,253,000 after purchasing an additional 368 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Penumbra by 37.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,313 shares of the company's stock valued at $312,000 after buying an additional 359 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Penumbra by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 60,485 shares of the company's stock valued at $14,364,000 after buying an additional 2,033 shares during the period. Russell Investments Group Ltd. lifted its holdings in Penumbra by 830.2% in the fourth quarter. Russell Investments Group Ltd. now owns 19,989 shares of the company's stock valued at $4,747,000 after buying an additional 17,840 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Penumbra by 66.1% in the fourth quarter. Cerity Partners LLC now owns 5,999 shares of the company's stock valued at $1,400,000 after buying an additional 2,387 shares during the period. Institutional investors own 88.88% of the company's stock.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the sale, the executive vice president directly owned 66,057 shares of the company's stock, valued at $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bridget O'rourke sold 100 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the completion of the sale, the director directly owned 5,423 shares of the company's stock, valued at $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,115 shares of company stock valued at $29,476,845 over the last three months. Corporate insiders own 4.20% of the company's stock.

Penumbra Trading Up 0.1%

NYSE:PEN opened at $240.93 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm has a 50-day moving average of $246.70 and a 200-day moving average of $266.40. The company has a market cap of $9.40 billion, a PE ratio of 64.08, a PEG ratio of 2.17 and a beta of 0.40. Penumbra, Inc. has a one year low of $166.64 and a one year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PEN has been the topic of several recent analyst reports. UBS Group set a $335.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $300.47.

About Penumbra

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.

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