WINTON GROUP Ltd Buys Shares of 2,400 Penumbra, Inc. (NYSE:PEN)

WINTON GROUP Ltd purchased a new position in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,400 shares of the company’s stock, valued at approximately $570,000.

Several other large investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after buying an additional 138,387 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in Penumbra during the third quarter valued at approximately $21,475,000. Allspring Global Investments Holdings LLC grew its position in Penumbra by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock valued at $71,831,000 after buying an additional 85,284 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in Penumbra during the fourth quarter valued at approximately $13,451,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEN. Oppenheimer initiated coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective for the company. Canaccord Genuity Group raised their price objective on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus target price of $294.47.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 61,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the sale, the chief executive officer now directly owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arani Bose sold 12,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the transaction, the director now directly owns 314,819 shares in the company, valued at $89,336,187.63. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,518 shares of company stock worth $26,400,219 in the last three months. Insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE:PEN opened at $267.16 on Friday. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 785.75, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock’s 50 day simple moving average is $274.55 and its two-hundred day simple moving average is $242.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. As a group, equities analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal 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.