Dynamic Technology Lab Private Ltd Grows Position in Penumbra, Inc. (NYSE:PEN)

Dynamic Technology Lab Private Ltd grew its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 69.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,540 shares of the company's stock after acquiring an additional 1,450 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Penumbra were worth $841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PEN. Pallas Capital Advisors LLC lifted its stake in Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Penumbra by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock valued at $1,359,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock valued at $281,000 after acquiring an additional 61 shares in the last quarter. Corient Private Wealth LLC grew its position in Penumbra by 3.7% during the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock worth $403,000 after acquiring an additional 61 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PEN shares. Wells Fargo & Company raised their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Oppenheimer initiated coverage on Penumbra in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 price target on the stock. Royal Bank of Canada lifted their price objective on Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Morgan Stanley upped their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Finally, Canaccord Genuity Group raised their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $293.80.

Penumbra Price Performance

Shares of Penumbra stock traded up $1.61 on Friday, reaching $270.18. The stock had a trading volume of 87,684 shares, compared to its average volume of 409,316. The company has a market cap of $10.41 billion, a P/E ratio of 794.10, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The business's 50 day moving average is $274.12 and its two-hundred day moving average is $248.20. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

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

Insider Buying and Selling at Penumbra

In other news, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer now directly owns 15,243 shares of the company's stock, valued at $4,359,498. This represents a 11.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares of the company's stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,236 shares of company stock worth $31,222,390. Company insiders own 5.00% of the company's stock.

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.