Handelsbanken Fonder AB Increases Stake in Penumbra, Inc. (NYSE:PEN)

Handelsbanken Fonder AB lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 36.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,058 shares of the company’s stock after acquiring an additional 2,400 shares during the period. Handelsbanken Fonder AB’s holdings in Penumbra were worth $2,278,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PEN. RiverPark Advisors LLC purchased a new position in shares of Penumbra during the 3rd quarter worth about $42,000. Signaturefd LLC lifted its holdings in shares of Penumbra by 27.2% during 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 period. Covestor Ltd lifted its holdings in shares of Penumbra by 357.9% during 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 period. Nisa Investment Advisors LLC lifted its holdings in shares of Penumbra by 496.7% during 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 period. Finally, Fifth Third Bancorp lifted its holdings in shares of Penumbra by 13.9% during 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 period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Arani Bose sold 7,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the completion of the transaction, the director now directly owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Arani Bose sold 7,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the completion of the transaction, the director now directly owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Don W. Kassing sold 778 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $234.72, for a total value of $182,612.16. Following the transaction, the director now owns 1,345 shares of the company’s stock, valued at $315,698.40. The disclosure for this sale can be found here. In the last three months, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEN. Piper Sandler reiterated an “overweight” rating and set a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $284.00 to $250.00 in a research report on Friday, February 23rd. Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and a consensus price target of $304.45.

Penumbra Stock Down 0.5 %

Shares of NYSE:PEN opened at $204.41 on Friday. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The company has a 50 day moving average of $228.07 and a two-hundred day moving average of $231.75. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 88.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) 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 company had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same quarter last year, the company earned $0.16 earnings per share. Penumbra’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, analysts forecast that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

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.