Quantbot Technologies LP Makes New $757,000 Investment in Penumbra, Inc. $PEN

Quantbot Technologies LP acquired a new stake in Penumbra, Inc. (NYSE:PEN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,951 shares of the company’s stock, valued at approximately $757,000.

A number of other hedge funds have also recently bought and sold shares of PEN. Parkside Financial Bank & Trust grew its position in shares of Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 66 shares during the period. AlphaQuest LLC acquired a new stake in Penumbra in the 1st quarter worth about $66,000. Caitong International Asset Management Co. Ltd purchased a new stake in Penumbra in the 1st quarter valued at about $76,000. Spire Wealth Management acquired a new position in shares of Penumbra during the 2nd quarter valued at about $91,000. Finally, IFP Advisors Inc lifted its holdings in shares of Penumbra by 6,600.0% during the 2nd quarter. IFP Advisors Inc now owns 670 shares of the company’s stock worth $172,000 after acquiring an additional 660 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity

In related news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $248.61, for a total transaction of $46,241.46. Following the sale, the director owned 8,702 shares of the company’s stock, valued at $2,163,404.22. The trade was a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 1,800 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $300.06, for a total transaction of $540,108.00. Following the completion of the transaction, the executive vice president owned 64,736 shares in the company, valued at $19,424,684.16. This represents a 2.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,744 shares of company stock worth $5,755,174. 5.00% of the stock is currently owned by company insiders.

Penumbra Price Performance

Shares of NYSE PEN opened at $287.11 on Wednesday. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of 68.69, a PEG ratio of 2.43 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $310.00. The business has a 50-day moving average of $265.68 and a 200-day moving average of $258.25.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same period in the previous year, the company posted $0.85 EPS. Penumbra’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Ratings Changes

PEN has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $326.00 target price on shares of Penumbra in a report on Monday, October 27th. Truist Financial decreased their price target on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Wells Fargo & Company assumed coverage on Penumbra in a report on Tuesday, November 18th. They set an “underweight” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Monday. Finally, Evercore ISI reissued an “outperform” rating and set a $286.00 price target on shares of Penumbra in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $305.69.

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.