Baird Financial Group Inc. Invests $225,000 in Penumbra, Inc. (NYSE:PEN)

Baird Financial Group Inc. bought a new position in Penumbra, Inc. (NYSE:PENGet Rating) in the second quarter, Holdings Channel.com reports. The firm bought 1,809 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEN. Arizona State Retirement System raised its stake in Penumbra by 2.6% in the 1st quarter. Arizona State Retirement System now owns 9,594 shares of the company’s stock worth $2,131,000 after acquiring an additional 241 shares during the last quarter. Victory Capital Management Inc. raised its stake in Penumbra by 899.1% in the 1st quarter. Victory Capital Management Inc. now owns 38,575 shares of the company’s stock worth $8,207,000 after acquiring an additional 34,714 shares during the last quarter. State of Michigan Retirement System raised its stake in Penumbra by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 8,914 shares of the company’s stock worth $1,980,000 after acquiring an additional 63 shares during the last quarter. New York State Common Retirement Fund raised its stake in Penumbra by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 55,896 shares of the company’s stock worth $12,416,000 after acquiring an additional 10,956 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Penumbra by 4,949.8% in the 1st quarter. National Bank of Canada FI now owns 16,109 shares of the company’s stock worth $3,578,000 after acquiring an additional 15,790 shares during the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $196.22 on Thursday. The company has a quick ratio of 2.92, a current ratio of 5.23 and a debt-to-equity ratio of 0.03. Penumbra, Inc. has a twelve month low of $114.86 and a twelve month high of $290.36. The business has a 50-day moving average price of $183.63 and a 200 day moving average price of $158.78. The firm has a market cap of $7.45 billion, a PE ratio of -239.29 and a beta of 0.46.

Penumbra (NYSE:PENGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Penumbra had a positive return on equity of 0.45% and a negative net margin of 3.68%. The firm had revenue of $213.68 million during the quarter, compared to analyst estimates of $212.41 million. Sell-side analysts predict that Penumbra, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 5,800 shares of Penumbra stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $175.17, for a total value of $1,015,986.00. Following the sale, the executive vice president now directly owns 55,496 shares in the company, valued at approximately $9,721,234.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 8,924 shares of company stock worth $1,620,945. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BTIG Research reduced their target price on Penumbra from $239.00 to $204.00 in a research note on Friday, November 4th. Royal Bank of Canada raised their target price on Penumbra from $195.00 to $215.00 in a research note on Monday, November 14th. Jefferies Financial Group began coverage on Penumbra in a research note on Wednesday, October 12th. They set a “buy” rating and a $230.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Penumbra from $163.00 to $202.00 in a research note on Wednesday, October 26th. Finally, Needham & Company LLC reduced their price objective on Penumbra from $244.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, November 4th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $220.45.

Penumbra Profile

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Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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