Los Angeles Capital Management LLC Boosts Holdings in Penumbra, Inc. (NYSE:PEN)

Los Angeles Capital Management LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 211.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,582 shares of the company's stock after purchasing an additional 20,756 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of Penumbra worth $7,263,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning lifted its holdings in Penumbra by 4.7% in the 3rd quarter. Creative Planning now owns 1,574 shares of the company's stock worth $306,000 after buying an additional 71 shares during the period. Blue Trust Inc. increased its position in Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company's stock valued at $92,000 after buying an additional 453 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Penumbra by 37.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company's stock valued at $346,000 after buying an additional 488 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Penumbra by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company's stock worth $872,000 after purchasing an additional 305 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Penumbra in the 3rd quarter worth $220,000. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now directly owns 837,582 shares of the company's stock, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now directly owns 8,530 shares of the company's stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,421 shares of company stock worth $3,990,316. Company insiders own 5.00% of the company's stock.

Penumbra Price Performance

Shares of Penumbra stock traded up $3.90 during trading hours on Friday, reaching $285.36. 323,048 shares of the company's stock were exchanged, compared to its average volume of 519,050. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a market capitalization of $10.99 billion, a P/E ratio of 839.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The business has a fifty day moving average of $263.25 and a two-hundred day moving average of $232.21. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 price target on the stock. Canaccord Genuity Group raised their target price on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Morgan Stanley increased their price objective on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Citigroup raised their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Finally, Truist Financial raised their price target on shares of Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $292.64.

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.