Vanguard Group Inc. Has $982.83 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Key Points

• Vanguard Group Inc. has increased its stake in Penumbra, Inc. by 0.7% during the first quarter, holding approximately 9.49% of the company with an investment valued at $982.8 million.
• Various hedge funds have also expanded their positions in Penumbra recently, indicating strong institutional interest, with institutional investors owning 88.88% of the company's stock.
• Penumbra reported strong earnings for the last quarter, outperforming estimates with $339.46 million in revenue and $0.86 EPS, reflecting a 13.4% year-over-year revenue growth.

Vanguard Group Inc. boosted its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,675,349 shares of the company's stock after purchasing an additional 24,727 shares during the quarter. Vanguard Group Inc. owned about 9.49% of Penumbra worth $982,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEN. Synergy Investment Management LLC purchased a new position in shares of Penumbra in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. raised its holdings in Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. Versant Capital Management Inc increased its position in Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock worth $82,000 after buying an additional 277 shares during the period. Meeder Asset Management Inc. grew its position in shares of Penumbra by 1,966.7% during the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock worth $99,000 after acquiring an additional 354 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Penumbra by 110.4% in the 1st quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Transactions at Penumbra

In other news, Director Thomas Wilder sold 372 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total transaction of $89,339.52. Following the transaction, the director owned 372 shares in the company, valued at approximately $89,339.52. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 16,300 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $267.91, for a total transaction of $4,366,933.00. Following the transaction, the chief executive officer owned 98,289 shares in the company, valued at approximately $26,332,605.99. The trade was a 14.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,487 shares of company stock worth $24,461,787. 4.20% of the stock is currently owned by company insiders.

Penumbra Stock Down 0.1%

PEN traded down $0.24 during midday trading on Friday, hitting $252.98. 109,860 shares of the company's stock traded hands, compared to its average volume of 496,397. The company has a market cap of $9.87 billion, a PE ratio of 67.28, a price-to-earnings-growth ratio of 2.31 and a beta of 0.40. The stock's fifty day simple moving average is $246.16 and its 200-day simple moving average is $265.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a one year low of $184.80 and a one year high of $310.00.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Penumbra from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada reduced their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research report on Thursday, April 24th. UBS Group set a $335.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley raised their price objective on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $300.47.

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.