Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 937 Penumbra, Inc. (NYSE:PEN)

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 4th quarter, HoldingsChannel reports. The fund acquired 937 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. EFG Asset Management North America Corp. purchased a new stake in Penumbra during the fourth quarter worth approximately $3,531,000. LPL Financial LLC raised its holdings in Penumbra by 4.0% during the fourth quarter. LPL Financial LLC now owns 9,486 shares of the company’s stock worth $2,253,000 after purchasing an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Penumbra during the 4th quarter worth approximately $1,781,000. Sei Investments Co. boosted its holdings in shares of Penumbra by 18.8% in the 4th quarter. Sei Investments Co. now owns 107,616 shares of the company’s stock valued at $25,557,000 after buying an additional 17,027 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Penumbra by 388.9% in the 4th quarter. Teacher Retirement System of Texas now owns 7,876 shares of the company’s stock valued at $1,870,000 after buying an additional 6,265 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Bank of America assumed coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 target price for the company. Robert W. Baird raised their price target on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $294.47.

Penumbra Stock Down 0.9 %

Shares of NYSE:PEN opened at $267.16 on Friday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week 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. The firm’s 50-day simple moving average is $274.55 and its 200-day simple moving average is $242.63. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 785.75, a PEG ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share 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 analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the transaction, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at $9,326,270.72. This represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares of the company’s stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,518 shares of company stock valued at $26,400,219 over the last quarter. Company insiders own 5.00% of the company’s stock.

About Penumbra

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.