Los Angeles Capital Management LLC Boosts Stake in Penumbra, Inc. (NYSE:PEN)

Los Angeles Capital Management LLC grew its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 211.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,582 shares of the company’s stock after acquiring an additional 20,756 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of Penumbra worth $7,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC acquired a new stake in Penumbra during the 3rd quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares during the last quarter. Mather Group LLC. grew its position in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after buying an additional 275 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEN has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Citigroup increased their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Oppenheimer initiated coverage on Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group lifted their target price on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.64.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is owned by company insiders.

Penumbra Price Performance

Shares of PEN opened at $291.80 on Thursday. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The stock has a fifty day moving average price of $261.63 and a 200 day moving average price of $230.73. The company has a market cap of $11.24 billion, a P/E ratio of 858.24, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.