Russell Investments Group Ltd. Boosts Stock Position in Penumbra, Inc. (NYSE:PEN)

Russell Investments Group Ltd. raised its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 830.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,989 shares of the company's stock after purchasing an additional 17,840 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Penumbra worth $4,747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC increased its position in shares of Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock valued at $263,000 after buying an additional 41 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock worth $1,359,000 after acquiring an additional 57 shares during the period. CIBC Asset Management Inc raised its position in shares of Penumbra by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock worth $281,000 after acquiring an additional 61 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Penumbra by 3.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock valued at $403,000 after purchasing an additional 61 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of 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 purchasing an additional 70 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Canaccord Genuity Group lifted their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective on the stock. Morgan Stanley raised their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target on Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Penumbra has an average rating of "Moderate Buy" and a consensus target price of $293.93.

Penumbra Stock Performance

Penumbra stock traded down $1.17 during midday trading on Friday, reaching $276.62. 326,817 shares of the company traded hands, compared to its average volume of 413,437. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The business has a 50 day moving average of $275.31 and a two-hundred day moving average of $250.67. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 813.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56.

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

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. This represents a 79.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,286 shares of company stock worth $31,235,951 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Penumbra 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.