Penumbra, Inc. (NYSE:PEN) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC raised its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 128.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 668,873 shares of the company's stock after acquiring an additional 375,684 shares during the quarter. Janus Henderson Group PLC owned approximately 1.74% of Penumbra worth $129,967,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PEN. True Wealth Design LLC purchased a new position in shares of Penumbra in the third quarter valued at about $26,000. GAMMA Investing LLC increased its position in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company's stock valued at $33,000 after buying an additional 90 shares during the period. WASHINGTON TRUST Co purchased a new position in shares of Penumbra during the second quarter valued at about $54,000. Park Place Capital Corp increased its position in shares of Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company's stock valued at $70,000 after buying an additional 339 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company's stock worth $70,000 after acquiring an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $176.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Citigroup upped their target price on shares of Penumbra from $178.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, August 22nd. Robert W. Baird upped their target price on shares of Penumbra from $244.00 to $248.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Leerink Partnrs raised shares of Penumbra to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus assumed coverage on shares of Penumbra in a research note on Tuesday, September 17th. They issued a "buy" rating and a $238.00 price objective for the company. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.92.

Penumbra Trading Down 2.6 %

PEN stock traded down $6.38 during trading on Thursday, hitting $242.70. The company had a trading volume of 194,610 shares, compared to its average volume of 376,975. The firm has a market capitalization of $9.31 billion, a P/E ratio of 282.21, a PEG ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The company has a 50 day simple moving average of $221.10 and a 200-day simple moving average of $199.69. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.16. The business had revenue of $301.04 million for 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 company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. As a group, research analysts forecast that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the sale, the chief executive officer now directly owns 882,582 shares in the company, valued at approximately $174,495,287.22. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lambert Shiu sold 1,798 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,418 shares of company stock worth $10,624,973. Corporate insiders own 5.00% of the company's stock.

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.