Y Intercept Hong Kong Ltd Buys New Shares in Penumbra, Inc. $PEN

Y Intercept Hong Kong Ltd bought a new stake in Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,820 shares of the company’s stock, valued at approximately $5,600,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEN. JPMorgan Chase & Co. grew its position in Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock worth $188,159,000 after purchasing an additional 572,606 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Penumbra during the 1st quarter worth about $63,731,000. Los Angeles Capital Management LLC grew its position in Penumbra by 487.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company’s stock worth $48,013,000 after purchasing an additional 148,968 shares during the period. Nuveen LLC acquired a new stake in Penumbra during the 1st quarter worth about $33,696,000. Finally, Woodline Partners LP grew its position in Penumbra by 476.1% during the 1st quarter. Woodline Partners LP now owns 145,881 shares of the company’s stock worth $39,010,000 after purchasing an additional 120,558 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PEN. BTIG Research reaffirmed a “buy” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday. UBS Group set a $335.00 price target on Penumbra and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Wall Street Zen raised Penumbra from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Robert W. Baird increased their target price on shares of Penumbra from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $305.94.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 372 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the transaction, the director directly owned 372 shares of the company’s stock, valued at approximately $89,339.52. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 16,030 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $238.20, for a total transaction of $3,818,346.00. Following the completion of the transaction, the chief executive officer directly owned 158,204 shares in the company, valued at $37,684,192.80. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,460 shares of company stock worth $16,322,614 in the last three months. 5.00% of the stock is owned by corporate insiders.

Penumbra Trading Down 1.7%

Shares of Penumbra stock opened at $248.70 on Tuesday. The firm has a market capitalization of $9.70 billion, a PE ratio of 66.14, a P/E/G ratio of 2.28 and a beta of 0.41. Penumbra, Inc. has a twelve month low of $205.80 and a twelve month high of $310.00. The firm’s 50-day moving average price is $260.43 and its 200 day moving average price is $260.72. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. Penumbra’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.