Ieq Capital LLC Invests $1.82 Million in Penumbra, Inc. (NYSE:PEN)

Ieq Capital LLC bought a new stake in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,642 shares of the company’s stock, valued at approximately $1,815,000.

A number of other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Penumbra during the 4th quarter worth approximately $573,000. State Street Corp grew its holdings in Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after purchasing an additional 3,863 shares during the period. Thrivent Financial for Lutherans increased its stake in Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after purchasing an additional 2,000 shares during the period. Finally, AlphaCentric Advisors LLC bought a new position in shares of Penumbra during the 3rd quarter worth about $777,000. Institutional investors own 88.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now directly 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. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Stock Performance

Shares of NYSE PEN opened at $292.52 on Monday. 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 firm’s 50-day moving average price is $259.09 and its 200-day moving average price is $228.69. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a market cap of $11.27 billion, a PE ratio of 860.35, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of research reports. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.64.

About Penumbra

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.