Quadrant Capital Group LLC Purchases 172 Shares of Penumbra, Inc. (NYSE:PEN)

Quadrant Capital Group LLC boosted its position in Penumbra, Inc. (NYSE:PEN) by 31.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 722 shares of the company’s stock after purchasing an additional 172 shares during the quarter. Quadrant Capital Group LLC’s holdings in Penumbra were worth $182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Penumbra during the 3rd quarter valued at about $1,641,000. M&T Bank Corp boosted its position in shares of Penumbra by 6.1% in the 3rd quarter. M&T Bank Corp now owns 1,262 shares of the company’s stock worth $305,000 after purchasing an additional 72 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Penumbra by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 69,331 shares of the company’s stock worth $16,772,000 after buying an additional 1,665 shares during the last quarter. Victory Capital Management Inc. increased its position in Penumbra by 18.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,585 shares of the company’s stock valued at $8,366,000 after buying an additional 5,345 shares in the last quarter. Finally, F M Investments LLC raised its stake in Penumbra by 23.5% during the third quarter. F M Investments LLC now owns 8,461 shares of the company’s stock valued at $2,047,000 after buying an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 1.0 %

Shares of NYSE:PEN opened at $201.44 on Tuesday. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 85.00, a PEG ratio of 2.06 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The stock’s 50-day simple moving average is $214.69 and its two-hundred day simple moving average is $232.56.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same period in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts expect that Penumbra, Inc. will post 2.87 EPS for the current year.

Insider Transactions at Penumbra

In other news, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $250.20, for a total value of $1,876,500.00. Following the transaction, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Arani Bose sold 7,500 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction on Friday, March 1st. The shares were sold at an average price of $234.72, for a total transaction of $182,612.16. Following the transaction, the director now owns 1,345 shares in the company, valued at approximately $315,698.40. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock worth $2,494,349 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PEN. Royal Bank of Canada restated an “outperform” rating and set a $289.00 price target on shares of Penumbra in a report on Friday, February 23rd. Truist Financial cut their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Canaccord Genuity Group decreased their price objective on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $300.64.

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.