QRG Capital Management Inc. Has $376,000 Holdings in Penumbra, Inc. (NYSE:PEN)

QRG Capital Management Inc. lifted its position in Penumbra, Inc. (NYSE:PEN) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,584 shares of the company’s stock after purchasing an additional 72 shares during the quarter. QRG Capital Management Inc.’s holdings in Penumbra were worth $376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEN. Creative Planning raised its stake in shares of Penumbra by 4.7% in the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after buying an additional 71 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Penumbra by 37.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company’s stock valued at $346,000 after acquiring an additional 488 shares during the period. State of Alaska Department of Revenue raised its position in Penumbra by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company’s stock worth $872,000 after purchasing an additional 305 shares in the last quarter. SpiderRock Advisors LLC bought a new position in Penumbra during the third quarter worth about $514,000. Finally, Washington Trust Advisors Inc. boosted its holdings in Penumbra by 2.6% during the third quarter. Washington Trust Advisors Inc. now owns 21,506 shares of the company’s stock valued at $4,179,000 after purchasing an additional 541 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEN. BTIG Research raised their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price objective on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Truist Financial increased their target price on shares of Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company upped 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 equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Price Performance

Penumbra stock opened at $285.91 on Thursday. The business’s 50-day simple moving average is $265.94 and its 200 day simple moving average is $234.26. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 840.91, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate 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 anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares of the company’s stock, valued at approximately $19,125,304.77. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the transaction, the chief accounting officer now owns 32,969 shares in the company, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,318 shares of company stock valued at $4,585,149. 5.00% of the stock is currently owned by 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.