Y Intercept Hong Kong Ltd Cuts Holdings in Penumbra, Inc. (NYSE:PEN)

Y Intercept Hong Kong Ltd lessened its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 78.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,448 shares of the company's stock after selling 5,190 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Penumbra were worth $281,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PEN. Janus Henderson Group PLC raised its holdings in shares of Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock valued at $129,967,000 after acquiring an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock worth $71,564,000 after purchasing an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock valued at $300,786,000 after purchasing an additional 264,122 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Penumbra in the 3rd quarter valued at $31,965,000. Finally, Braidwell LP boosted its stake in Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company's stock worth $70,229,000 after purchasing an additional 148,834 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEN has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on shares of Penumbra from $205.00 to $222.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Canaccord Genuity Group increased their price objective on shares of Penumbra from $260.00 to $323.00 and gave the company a "buy" rating in a report on Monday, December 9th. Leerink Partnrs upgraded Penumbra to a "strong-buy" rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised Penumbra from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Finally, Stifel Nicolaus assumed coverage on Penumbra in a research report on Tuesday, September 17th. They set a "buy" rating and a $238.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.00.

Penumbra Trading Up 1.9 %

PEN traded up $4.62 on Thursday, hitting $243.52. The company had a trading volume of 439,284 shares, compared to its average volume of 375,932. The company's fifty day moving average price is $231.36 and its 200 day moving average price is $203.22. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.35 billion, a P/E ratio of 283.16, a PEG ratio of 2.47 and a beta of 0.51.

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 net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million during the quarter, compared to analysts' expectations of $297.36 million. During the same period last year, the business earned $0.67 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now owns 63,444 shares of the company's stock, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the transaction, the chief executive officer now owns 882,582 shares of the company's stock, valued at $174,495,287.22. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,418 shares of company stock valued at $10,624,973 over the last quarter. 5.00% of the stock is owned by company insiders.

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.