Marshall Wace LLP Buys 42,130 Shares of Penumbra, Inc. (NYSE:PEN)

Marshall Wace LLP grew its stake in Penumbra, Inc. (NYSE:PEN) by 2,312.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,952 shares of the company’s stock after buying an additional 42,130 shares during the quarter. Marshall Wace LLP’s holdings in Penumbra were worth $10,438,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in shares of Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after acquiring an additional 39 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Penumbra by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Penumbra by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after buying an additional 61 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Penumbra by 3.7% during the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock valued at $403,000 after buying an additional 61 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEN. Royal Bank of Canada reissued an “outperform” rating and set a $315.00 price objective on shares of Penumbra in a research note on Tuesday, April 15th. UBS Group raised their price target on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group increased their target price on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Robert W. Baird upped their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and an average target price of $293.93.

Penumbra Stock Down 2.5 %

Shares of Penumbra stock opened at $270.53 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 795.68, a PEG ratio of 2.83 and a beta of 0.56. The firm’s 50-day moving average is $275.53 and its two-hundred day moving average is $252.59. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other news, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now owns 4,533 shares of the company’s stock, valued at $1,199,341.14. The trade was a 7.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,846 shares of company stock valued at $35,779,187 over the last quarter. 5.00% of the stock is owned by corporate 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.