First Trust Advisors LP raised its holdings in shares of Penumbra Inc (NYSE:PEN) by 294.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,832 shares of the company’s stock after buying an additional 195,413 shares during the period. First Trust Advisors LP owned about 0.76% of Penumbra worth $39,196,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Advisors Preferred LLC lifted its position in Penumbra by 40.1% during the second quarter. Advisors Preferred LLC now owns 1,220 shares of the company’s stock valued at $169,000 after buying an additional 349 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Penumbra during the second quarter valued at approximately $267,000. WINTON GROUP Ltd acquired a new position in Penumbra during the first quarter valued at approximately $274,000. Summit Trail Advisors LLC acquired a new position in Penumbra during the first quarter valued at approximately $347,000. Finally, NumerixS Investment Technologies Inc lifted its position in Penumbra by 20.0% during the second quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock valued at $354,000 after buying an additional 420 shares in the last quarter. 73.75% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PEN opened at $136.00 on Thursday. Penumbra Inc has a 52 week low of $82.55 and a 52 week high of $167.35. The firm has a market cap of $4.74 billion, a PE ratio of -13,650.00, a PEG ratio of 25.91 and a beta of 0.08.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.12. Penumbra had a net margin of 7.19% and a return on equity of 2.78%. The business had revenue of $109.64 million for the quarter, compared to analysts’ expectations of $102.24 million. Research analysts anticipate that Penumbra Inc will post 0.27 EPS for the current year.
PEN has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Bank of America reaffirmed a “buy” rating and set a $36.00 price target on shares of Penumbra in a research report on Monday. ValuEngine raised shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Royal Bank of Canada initiated coverage on shares of Penumbra in a research report on Monday, October 8th. They set an “outperform” rating and a $174.00 price target on the stock. Finally, TheStreet raised shares of Penumbra from a “d+” rating to a “c” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $144.71.
In other news, EVP Robert D. Evans sold 10,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $150.16, for a total transaction of $1,501,600.00. Following the transaction, the executive vice president now directly owns 15,667 shares of the company’s stock, valued at $2,352,556.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harpreet Grewal sold 665 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $148.58, for a total transaction of $98,805.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,518 shares of company stock worth $5,505,218. Corporate insiders own 10.70% of the company’s stock.
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
Further Reading: How to Invest in the Dividend Aristocrat Index
Receive News & Ratings for Penumbra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penumbra and related companies with MarketBeat.com's FREE daily email newsletter.