BNP Paribas Financial Markets Lowers Stake in Penumbra, Inc. (NYSE:PEN)

BNP Paribas Financial Markets decreased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 77.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,094 shares of the company's stock after selling 13,789 shares during the quarter. BNP Paribas Financial Markets' holdings in Penumbra were worth $796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its holdings in Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock worth $71,564,000 after purchasing an additional 358,932 shares during the period. Champlain Investment Partners LLC increased its position in Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock worth $300,786,000 after buying an additional 264,122 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Penumbra during the third quarter worth $31,965,000. AQR Capital Management LLC lifted its holdings in shares of Penumbra by 439.8% during the second quarter. AQR Capital Management LLC now owns 178,413 shares of the company's stock worth $31,283,000 after buying an additional 145,364 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Penumbra by 96.7% in the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company's stock valued at $46,257,000 after acquiring an additional 126,392 shares during the period. Institutional investors own 88.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Penumbra from $244.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Citigroup lifted their price objective on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday. Leerink Partnrs raised shares of Penumbra to a "strong-buy" rating in a research report on Tuesday, September 3rd. Leerink Partners started coverage on shares of Penumbra in a report on Tuesday, September 3rd. They set an "outperform" rating and a $263.00 price objective on the stock. Finally, Canaccord Genuity Group raised their price objective on Penumbra from $260.00 to $323.00 and gave the company a "buy" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Penumbra currently has an average rating of "Moderate Buy" and an average price target of $252.42.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the sale, the executive vice president now owns 60,488 shares in the company, valued at approximately $11,538,690.88. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the sale, the chief executive officer now directly owns 882,582 shares of the company's stock, valued at approximately $174,495,287.22. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,418 shares of company stock worth $10,624,973. 5.00% of the stock is owned by corporate insiders.

Penumbra Trading Down 0.4 %

Shares of PEN stock traded down $1.12 during trading hours on Thursday, reaching $252.54. The company's stock had a trading volume of 409,422 shares, compared to its average volume of 376,213. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The stock has a market capitalization of $9.69 billion, a P/E ratio of 292.59, a P/E/G ratio of 2.39 and a beta of 0.51. The firm's fifty day simple moving average is $225.17 and its 200 day simple moving average is $201.01.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.16. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. Equities research analysts expect that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra Company 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.