Artisan Partners Limited Partnership Boosts Stake in Penumbra, Inc. (NYSE:PEN)

Artisan Partners Limited Partnership increased its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 296,058 shares of the company's stock after acquiring an additional 5,470 shares during the period. Artisan Partners Limited Partnership owned about 0.77% of Penumbra worth $70,308,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEN. True Wealth Design LLC bought a new stake in shares of Penumbra during the 3rd quarter valued at about $26,000. UMB Bank n.a. grew its position in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after buying an additional 70 shares during the period. Mather Group LLC. increased its holdings in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after buying an additional 208 shares during the last quarter. Jones Financial Companies Lllp raised its position in Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after acquiring an additional 75 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after acquiring an additional 43 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 up $3.78 during midday trading on Tuesday, reaching $271.19. 411,257 shares of the stock traded hands, compared to its average volume of 404,655. The stock has a market cap of $10.45 billion, a P/E ratio of 797.62, a PEG ratio of 2.83 and a beta of 0.51. The stock's fifty day moving average is $274.68 and its 200-day moving average is $244.25. 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, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00.

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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. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. As a group, equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PEN shares. Citigroup raised their target price on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. UBS Group raised their target price on shares of Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada upped their price target on shares of Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $294.47.

Insiders Place Their Bets

In related news, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the transaction, the chief accounting officer now owns 32,969 shares in the company, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the sale, the director now owns 314,819 shares in the company, valued at approximately $89,336,187.63. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,518 shares of company stock valued at $26,400,219 in the last three months. 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.