Geode Capital Management LLC Purchases 11,257 Shares of Penumbra, Inc. (NYSE:PEN)

Geode Capital Management LLC increased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 655,572 shares of the company's stock after purchasing an additional 11,257 shares during the quarter. Geode Capital Management LLC owned approximately 1.71% of Penumbra worth $127,417,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEN. FMR LLC grew its stake in shares of Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company's stock valued at $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC grew its position in Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock worth $300,786,000 after acquiring an additional 264,122 shares in the last quarter. State Street Corp increased its stake in shares of Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company's stock worth $240,298,000 after purchasing an additional 3,863 shares during the last quarter. RTW Investments LP lifted its stake in shares of Penumbra by 7.2% in the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company's stock valued at $154,622,000 after purchasing an additional 53,645 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock worth $129,967,000 after purchasing an additional 375,684 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

PEN traded down $8.65 during midday trading on Wednesday, reaching $238.90. 472,022 shares of the company's stock were exchanged, compared to its average volume of 375,672. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 277.79, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The business has a 50-day simple moving average of $229.52 and a two-hundred day simple moving average of $202.69. 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 announced its quarterly 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. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million for the quarter, compared to analysts' expectations of $297.36 million. During the same period in the prior year, the business posted $0.67 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. As a group, research analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 654 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $243.01, for a total value of $158,928.54. Following the completion of the sale, the chief accounting officer now owns 20,028 shares in the company, valued at approximately $4,867,004.28. This trade represents a 3.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares of the company's stock, valued at approximately $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,418 shares of company stock worth $10,624,973 over the last ninety days. Corporate insiders own 5.00% of the company's stock.

Analysts Set New Price Targets

PEN has been the subject of a number of analyst reports. Leerink Partners began coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They issued an "outperform" rating and a $263.00 price objective for the company. Leerink Partnrs upgraded shares of Penumbra to a "strong-buy" rating in a report on Tuesday, September 3rd. Stifel Nicolaus initiated coverage on Penumbra in a research note on Tuesday, September 17th. They issued a "buy" rating and a $238.00 price objective on the stock. Robert W. Baird increased their target price on Penumbra from $244.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, Oppenheimer initiated coverage on Penumbra in a research report on Tuesday. They issued an "outperform" rating and a $275.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $258.00.

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.