Exchange Traded Concepts LLC Grows Stock Position in Penumbra, Inc. (NYSE:PEN)

Exchange Traded Concepts LLC lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 58.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,891 shares of the company's stock after buying an additional 2,172 shares during the period. Exchange Traded Concepts LLC's holdings in Penumbra were worth $1,575,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. RTW Investments LP raised its holdings in shares of Penumbra by 8.4% during the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after buying an additional 66,700 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after purchasing an additional 227,506 shares in the last quarter. Bank of America Corp DE increased its holdings in Penumbra by 19.9% in the 4th quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after purchasing an additional 57,421 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after purchasing an additional 60,764 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Penumbra by 20.8% in the 4th quarter. Northern Trust Corp now owns 318,230 shares of the company's stock worth $75,573,000 after purchasing an additional 54,890 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Down 0.1%

NYSE:PEN traded down $0.26 on Friday, hitting $256.75. The stock had a trading volume of 859,137 shares, compared to its average volume of 451,908. The business's fifty day moving average is $274.48 and its 200 day moving average is $267.68. The company has a market cap of $9.94 billion, a PE ratio of 242.22, a P/E/G ratio of 2.29 and a beta of 0.49. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a "buy" rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a report on Thursday, April 24th. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Bank of America assumed coverage on Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 target price for the company. Robert W. Baird upped their target price on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company upped their target price on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Activity

In related news, CEO Adam Elsesser sold 16,650 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the completion of the sale, the chief executive officer now directly owns 75,237 shares of the company's stock, valued at approximately $21,771,330.69. This trade represents a 18.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $300.01, for a total value of $180,006.00. Following the sale, the executive vice president now directly owns 66,159 shares of the company's stock, valued at $19,848,361.59. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,205 shares of company stock worth $35,823,774 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

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.