Voya Investment Management LLC Increases Stake in Penumbra, Inc. (NYSE:PEN)

Voya Investment Management LLC grew its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 280.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,591 shares of the company's stock after acquiring an additional 75,648 shares during the period. Voya Investment Management LLC owned about 0.27% of Penumbra worth $24,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. UMB Bank n.a. increased its holdings in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC purchased a new stake in shares of Penumbra during the fourth quarter worth approximately $56,000. Huntington National Bank raised its holdings in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. lifted its stake in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity

In related news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. This trade represents a 11.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the transaction, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,446 shares of company stock worth $39,543,953 over the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Stock Performance

NYSE PEN traded up $3.22 during trading hours on Friday, hitting $295.04. 167,489 shares of the stock were exchanged, compared to its average volume of 426,129. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 867.56, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The stock has a 50-day moving average of $276.82 and a 200 day moving average of $256.96.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $315.72 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Canaccord Genuity Group lifted their price target on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Robert W. Baird upped their price target on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. StockNews.com raised shares of Penumbra from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Morgan Stanley increased their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted their price target on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.