Baker Avenue Asset Management LP Increases Stock Position in Penumbra, Inc. (NYSE:PEN)

Baker Avenue Asset Management LP raised its stake in shares of Penumbra, Inc. (NYSE:PEN) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,330 shares of the company’s stock after buying an additional 53 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Penumbra were worth $791,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake 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 acquiring an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Penumbra during the 4th quarter worth about $56,000. Huntington National Bank grew its holdings in shares of Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. raised its position in shares of Penumbra by 208.0% in 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. Finally, Jones Financial Companies Lllp lifted its stake in shares of Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 1.0 %

NYSE PEN opened at $293.09 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company’s 50 day moving average price is $277.14 and its 200 day moving average price is $258.92. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 862.03, a PEG ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Lambert Shiu sold 501 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the transaction, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $298.73, for a total transaction of $3,584,760.00. Following the sale, the director now directly owns 302,819 shares of the company’s stock, valued at approximately $90,461,119.87. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,446 shares of company stock worth $39,543,953 over the last quarter. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Canaccord Genuity Group upped their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research restated a “buy” rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Robert W. Baird increased their price objective on shares of Penumbra from $316.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.40.

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.