Quantinno Capital Management LP Buys 7,519 Shares of Penumbra, Inc. (NYSE:PEN)

Quantinno Capital Management LP grew its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 497.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,031 shares of the company's stock after acquiring an additional 7,519 shares during the period. Quantinno Capital Management LP's holdings in Penumbra were worth $2,145,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PEN. Norges Bank bought a new position in shares of Penumbra in the 4th quarter valued at $54,396,000. T. Rowe Price Investment Management Inc. raised its position in Penumbra by 47.4% during 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 during the last quarter. Baillie Gifford & Co. raised its position in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after purchasing an additional 138,387 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Penumbra during the 4th quarter worth $23,866,000. Finally, Baird Financial Group Inc. raised its position in Penumbra by 43.9% during the 4th quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock worth $66,541,000 after purchasing an additional 85,542 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Activity at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares in the company, valued at $1,199,341.14. The trade was a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. The trade was a 79.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,696 shares of company stock worth $50,207,745. 4.20% of the stock is owned by company insiders.

Penumbra Stock Performance

Shares of PEN traded up $1.97 during mid-day trading on Friday, hitting $268.72. The stock had a trading volume of 235,921 shares, compared to its average volume of 442,990. The firm has a market cap of $10.41 billion, a P/E ratio of 790.35, a PEG ratio of 2.83 and a beta of 0.53. The business has a fifty day moving average price of $279.68 and a 200-day moving average price of $264.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. 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 issued its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business's revenue was up 16.3% on a year-over-year basis. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on PEN shares. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Truist Financial boosted their target price on Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $330.00 price target (up previously from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Piper Sandler restated an "overweight" rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $302.40.

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.