Franklin Resources Inc. Increases Position in Penumbra Inc (PEN)

Franklin Resources Inc. lifted its position in shares of Penumbra Inc (NYSE:PEN) by 13.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,898 shares of the company’s stock after buying an additional 42,675 shares during the period. Franklin Resources Inc. owned about 1.07% of Penumbra worth $55,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisors Preferred LLC raised its holdings in shares of Penumbra by 40.1% during the 2nd 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. NumerixS Investment Technologies Inc raised its holdings in shares of Penumbra by 20.0% during the 2nd 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. Great West Life Assurance Co. Can raised its holdings in shares of Penumbra by 17.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,230 shares of the company’s stock valued at $446,000 after buying an additional 489 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Penumbra by 6.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 14,598 shares of the company’s stock valued at $2,017,000 after buying an additional 850 shares in the last quarter. Finally, Stevens Capital Management LP increased its stake in Penumbra by 4.0% in the 2nd quarter. Stevens Capital Management LP now owns 24,064 shares of the company’s stock worth $3,324,000 after purchasing an additional 925 shares during the period. 72.37% of the stock is currently owned by institutional investors.

Shares of Penumbra stock opened at $131.72 on Friday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 283.98, a P/E/G ratio of 14.35 and a beta of 0.40. Penumbra Inc has a one year low of $82.55 and a one year high of $167.35.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.14. The business had revenue of $111.80 million for the quarter, compared to analysts’ expectations of $103.59 million. Penumbra had a return on equity of 4.21% and a net margin of 2.15%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. As a group, equities analysts predict that Penumbra Inc will post 0.47 earnings per share for the current fiscal year.

In other news, EVP Johanna Roberts sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $150.00, for a total transaction of $150,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harpreet Grewal sold 665 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $148.58, for a total value of $98,805.70. The disclosure for this sale can be found here. Insiders sold a total of 2,865 shares of company stock worth $419,434 over the last ninety days. Insiders own 10.70% of the company’s stock.

A number of equities analysts have commented on the company. Zacks Investment Research raised Penumbra from a “hold” rating to a “strong-buy” rating and set a $143.00 price target on the stock in a research note on Saturday, August 11th. TheStreet raised Penumbra from a “d+” rating to a “c” rating in a research note on Monday, September 17th. BMO Capital Markets lifted their price target on Penumbra from $150.00 to $152.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 6th. ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Finally, Bank of America reaffirmed a “buy” rating and issued a $36.00 price target on shares of Penumbra in a research note on Monday, October 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Penumbra presently has an average rating of “Buy” and an average target price of $145.57.

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Penumbra Profile

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: Candlestick

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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