Penumbra, Inc. (NYSE:PEN) Stake Boosted by BlackRock Inc.

BlackRock Inc. grew its stake in shares of Penumbra, Inc. (NYSE:PEN) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,558,884 shares of the company’s stock after acquiring an additional 192,981 shares during the period. BlackRock Inc. owned 9.80% of Penumbra worth $622,806,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Virtu Financial LLC bought a new stake in Penumbra in the third quarter worth $1,743,000. Great West Life Assurance Co. Can boosted its holdings in Penumbra by 561.1% in the third quarter. Great West Life Assurance Co. Can now owns 108,347 shares of the company’s stock worth $2,725,000 after purchasing an additional 91,958 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Penumbra by 200.8% in the third quarter. Advisors Asset Management Inc. now owns 3,589 shares of the company’s stock worth $698,000 after purchasing an additional 2,396 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Penumbra by 16.4% in the third quarter. AQR Capital Management LLC now owns 5,679 shares of the company’s stock worth $1,098,000 after purchasing an additional 801 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in Penumbra by 25.0% in the third quarter. Guggenheim Capital LLC now owns 10,903 shares of the company’s stock worth $2,119,000 after purchasing an additional 2,181 shares in the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.

In other Penumbra news, insider Arani Bose sold 10,000 shares of the company’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $259.43, for a total transaction of $2,594,300.00. Following the sale, the insider now directly owns 539,506 shares of the company’s stock, valued at $139,964,041.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Robert Pray sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $215.93, for a total transaction of $1,079,650.00. Following the sale, the insider now directly owns 1,578 shares in the company, valued at $340,737.54. The disclosure for this sale can be found here. In the last three months, insiders sold 38,180 shares of company stock worth $8,662,854. 8.90% of the stock is currently owned by insiders.

NYSE PEN opened at $280.03 on Tuesday. The stock has a market cap of $10.17 billion, a P/E ratio of -1,037.15 and a beta of 0.43. The company’s 50-day simple moving average is $245.65 and its 200 day simple moving average is $224.25. Penumbra, Inc. has a twelve month low of $121.80 and a twelve month high of $314.22. The company has a quick ratio of 3.69, a current ratio of 5.46 and a debt-to-equity ratio of 0.04.

PEN has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Penumbra from $265.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, December 16th. Smith Barney Citigroup boosted their target price on shares of Penumbra from $264.00 to $270.00 in a research report on Thursday, October 29th. Canaccord Genuity cut their target price on shares of Penumbra from $292.00 to $204.00 and set a “buy” rating for the company in a research report on Wednesday, December 16th. Zacks Investment Research raised shares of Penumbra from a “sell” rating to a “hold” rating and set a $309.00 price objective for the company in a research report on Thursday, February 18th. Finally, BTIG Research lowered shares of Penumbra from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $245.86.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, 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 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, DDC, and PX SLIM brands.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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