AlphaQuest LLC Grows Holdings in Penumbra, Inc. $PEN

AlphaQuest LLC grew its stake in Penumbra, Inc. (NYSE:PEN) by 237.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838 shares of the company’s stock after buying an additional 590 shares during the period. AlphaQuest LLC’s holdings in Penumbra were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wallace Advisory Group LLC purchased a new position in Penumbra in the 2nd quarter worth approximately $229,000. Securian Asset Management Inc. grew its stake in Penumbra by 3.4% in the 2nd quarter. Securian Asset Management Inc. now owns 3,001 shares of the company’s stock worth $770,000 after buying an additional 100 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Penumbra in the 2nd quarter worth approximately $1,386,000. WCM Investment Management LLC grew its stake in Penumbra by 7.6% in the 2nd quarter. WCM Investment Management LLC now owns 43,554 shares of the company’s stock worth $11,169,000 after buying an additional 3,060 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in Penumbra by 0.3% in the 2nd quarter. New York State Teachers Retirement System now owns 38,154 shares of the company’s stock worth $9,791,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 1.8%

Shares of PEN opened at $227.34 on Monday. The stock has a market capitalization of $8.87 billion, a P/E ratio of 60.46, a PEG ratio of 2.10 and a beta of 0.41. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $258.44 and a two-hundred day simple moving average of $259.49. Penumbra, Inc. has a twelve month low of $207.58 and a twelve month high of $310.00.

Analyst Upgrades and Downgrades

PEN has been the topic of several research reports. Evercore ISI decreased their price target on shares of Penumbra from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley upped their price objective on shares of Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $326.00 price objective on shares of Penumbra in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Wednesday, October 8th. Finally, UBS Group set a $335.00 price objective on shares of Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.94.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,800 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the completion of the sale, the chief executive officer owned 182,460 shares of the company’s stock, valued at $49,200,339. This represents a 7.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $249.70, for a total transaction of $149,820.00. Following the sale, the executive vice president directly owned 64,257 shares of the company’s stock, valued at $16,044,972.90. The trade was a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,460 shares of company stock worth $16,322,614 over the last ninety days. 4.20% of the stock is owned by company insiders.

Penumbra Company 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.