Jennison Associates LLC Buys New Shares in Penumbra, Inc. (NYSE:PEN)

Jennison Associates LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,829 shares of the company’s stock, valued at approximately $7,503,000. Jennison Associates LLC owned about 0.08% of Penumbra as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RiverPark Advisors LLC bought a new position in shares of Penumbra during the 3rd quarter valued at $42,000. Signaturefd LLC grew its holdings in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares during the last quarter. Covestor Ltd grew its holdings in Penumbra by 357.9% in the 3rd quarter. Covestor Ltd now owns 348 shares of the company’s stock worth $84,000 after acquiring an additional 272 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Penumbra by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock worth $90,000 after acquiring an additional 298 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Penumbra by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the transaction, the executive vice president now directly owns 62,997 shares of the company’s stock, valued at $14,973,126.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Penumbra news, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now directly owns 62,997 shares of the company’s stock, valued at $14,973,126.96. The disclosure for this sale can be found here. Insiders sold 9,648 shares of company stock valued at $2,369,903 over the last three months. Insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEN. JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $284.00 to $250.00 in a report on Friday, February 23rd. Truist Financial cut their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $284.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 target price on shares of Penumbra in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $304.45.

Penumbra Trading Down 0.5 %

Shares of NYSE PEN opened at $204.41 on Friday. The firm’s 50 day moving average price is $228.07 and its 200-day moving average price is $231.75. The company has a market cap of $7.92 billion, a PE ratio of 88.49, a P/E/G ratio of 2.03 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm had revenue of $284.68 million during the quarter, compared to analysts’ expectations of $286.62 million. During the same period in the previous year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. On average, equities research analysts expect that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

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.