Geode Capital Management LLC Has $127.42 Million Position in Penumbra, Inc. (NYSE:PEN)

Geode Capital Management LLC increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 655,572 shares of the company’s stock after buying an additional 11,257 shares during the quarter. Geode Capital Management LLC’s holdings in Penumbra were worth $127,417,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in Penumbra in the 3rd quarter valued at $26,000. GAMMA Investing LLC boosted its position in shares of Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Park Place Capital Corp increased its stake in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PEN shares. Stifel Nicolaus began coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 target price for the company. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup boosted their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Finally, BTIG Research boosted their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.15.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the transaction, the executive vice president now owns 63,444 shares of the company’s stock, valued at $15,511,423.56. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lambert Shiu sold 654 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $243.01, for a total transaction of $158,928.54. Following the completion of the sale, the chief accounting officer now directly owns 20,028 shares of the company’s stock, valued at $4,867,004.28. The trade was a 3.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,418 shares of company stock valued at $10,624,973. Company insiders own 5.00% of the company’s stock.

Penumbra Trading Up 0.1 %

Shares of PEN opened at $247.51 on Wednesday. The stock’s fifty day simple moving average is $229.52 and its 200-day simple moving average is $202.69. The firm has a market capitalization of $9.50 billion, a PE ratio of 287.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. 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) last issued its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. As a group, research analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current year.

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.