Penumbra, Inc. (NYSE:PEN) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,358 shares of the company’s stock after acquiring an additional 284 shares during the quarter. New York Life Investment Management LLC’s holdings in Penumbra were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PEN. Rock Springs Capital Management LP lifted its stake in shares of Penumbra by 37.6% during the third quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock worth $121,862,000 after purchasing an additional 137,750 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Penumbra by 81.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 222,279 shares of the company’s stock worth $53,772,000 after acquiring an additional 99,754 shares during the period. TD Asset Management Inc grew its position in Penumbra by 81.8% in the third quarter. TD Asset Management Inc now owns 131,734 shares of the company’s stock valued at $31,868,000 after acquiring an additional 59,266 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Penumbra by 42.5% during the third quarter. Federated Hermes Inc. now owns 137,609 shares of the company’s stock valued at $33,289,000 after purchasing an additional 41,074 shares during the period. Finally, Atika Capital Management LLC purchased a new stake in shares of Penumbra during the third quarter valued at approximately $9,072,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Arani Bose sold 7,500 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the transaction, the director now directly owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock worth $2,369,903 over the last ninety days. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

PEN stock opened at $210.00 on Wednesday. The stock’s 50 day simple moving average is $221.64 and its 200 day simple moving average is $232.02. Penumbra, Inc. has a 12-month low of $180.93 and a 12-month high of $348.67. The firm has a market cap of $8.14 billion, a P/E ratio of 90.91, a P/E/G ratio of 2.06 and a beta of 0.57. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company had revenue of $284.68 million for the quarter, compared to analysts’ expectations of $286.62 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year. As a group, equities research analysts predict that Penumbra, Inc. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PEN shares. Truist Financial decreased their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company 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 report on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $289.00 price target on shares of Penumbra in a report on Friday, February 23rd. Piper Sandler restated an “overweight” rating and set a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. Finally, TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average target price of $304.45.

Penumbra 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.