LMR Partners LLP Makes New $2.33 Million Investment in Penumbra, Inc. (NYSE:PEN)

LMR Partners LLP bought a new position in Penumbra, Inc. (NYSE:PEN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,992 shares of the company's stock, valued at approximately $2,330,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PEN. GAMMA Investing LLC lifted its holdings in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company's stock worth $33,000 after acquiring an additional 90 shares during the period. WASHINGTON TRUST Co bought a new stake in shares of Penumbra during the 2nd quarter worth $54,000. Park Place Capital Corp boosted its holdings in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company's stock worth $70,000 after buying an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company's stock worth $70,000 after buying an additional 369 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Penumbra by 808.9% during the third quarter. Blue Trust Inc. now owns 509 shares of the company's stock worth $92,000 after buying an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Price Performance

Penumbra stock traded down $3.44 during midday trading on Tuesday, reaching $237.04. 203,426 shares of the stock were exchanged, compared to its average volume of 383,237. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The firm has a market cap of $9.10 billion, a PE ratio of 279.51, a PEG ratio of 2.41 and a beta of 0.51. The company's fifty day moving average is $208.19 and its 200-day moving average is $196.22.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. On average, sell-side analysts forecast that Penumbra, Inc. will post 2.79 EPS for the current year.

Penumbra declared that its board has approved a stock buyback program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 1,620 shares of the firm's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00. Following the sale, the chief executive officer now owns 925,962 shares in the company, valued at $185,192,400. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total value of $123,732.00. Following the sale, the executive vice president now directly owns 61,088 shares of the company's stock, valued at approximately $12,597,567.36. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,768 shares of company stock valued at $6,787,530. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PEN has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Penumbra from $205.00 to $222.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. BTIG Research raised their target price on Penumbra from $224.00 to $234.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Wells Fargo & Company lowered Penumbra from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Citigroup boosted their price objective on Penumbra from $178.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $226.67.

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.