Putnam Investments LLC Buys 49,132 Shares of Penumbra Inc (PEN)

Putnam Investments LLC increased its stake in Penumbra Inc (NYSE:PEN) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 707,415 shares of the company’s stock after acquiring an additional 49,132 shares during the period. Putnam Investments LLC owned about 2.05% of Penumbra worth $105,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEN. Hsbc Holdings PLC bought a new stake in shares of Penumbra in the 3rd quarter valued at about $210,000. BlueMountain Capital Management LLC bought a new position in Penumbra during the 2nd quarter valued at approximately $267,000. Piedmont Investment Advisors Inc. bought a new position in Penumbra during the 3rd quarter valued at approximately $332,000. NumerixS Investment Technologies Inc raised its position in Penumbra by 20.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock valued at $354,000 after purchasing an additional 420 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Penumbra during the 2nd quarter valued at approximately $416,000. 72.37% of the stock is owned by institutional investors.

In other news, Director Bridget O’rourke sold 1,200 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $142.19, for a total value of $170,628.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harpreet Grewal sold 665 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $148.58, for a total value of $98,805.70. The disclosure for this sale can be found here. Insiders sold a total of 2,865 shares of company stock valued at $419,434 in the last three months. Corporate insiders own 10.70% of the company’s stock.

PEN has been the subject of a number of recent analyst reports. ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research lowered Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Royal Bank of Canada initiated coverage on Penumbra in a research report on Monday, October 8th. They set an “outperform” rating and a $174.00 price target for the company. Bank of America reaffirmed a “buy” rating and set a $36.00 price target on shares of Penumbra in a research report on Monday, October 29th. Finally, BMO Capital Markets upped their price target on Penumbra from $150.00 to $152.00 and gave the company a “market perform” rating in a research report on Tuesday, November 6th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $145.57.

PEN opened at $125.40 on Friday. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 261.25, a price-to-earnings-growth ratio of 13.20 and a beta of 0.40. Penumbra Inc has a one year low of $82.55 and a one year high of $167.35.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Monday, November 5th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The business had revenue of $111.80 million during the quarter, compared to analyst estimates of $103.59 million. Penumbra had a return on equity of 4.21% and a net margin of 2.15%. Penumbra’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. On average, equities research analysts forecast that Penumbra Inc will post 0.47 earnings per share for the current fiscal year.

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Penumbra Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers 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; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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