Penumbra, Inc. (NYSE:PEN) Shares Bought by Algert Global LLC

Algert Global LLC raised its stake in shares of Penumbra, Inc. (NYSE:PEN) by 29.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,974 shares of the company’s stock after purchasing an additional 4,362 shares during the quarter. Algert Global LLC’s holdings in Penumbra were worth $4,506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in shares of Penumbra by 16.5% in the 3rd quarter. Barclays PLC now owns 18,025 shares of the company’s stock valued at $3,502,000 after acquiring an additional 2,559 shares during the period. Tidal Investments LLC increased its holdings in shares of Penumbra by 2.7% in the third quarter. Tidal Investments LLC now owns 5,008 shares of the company’s stock valued at $973,000 after purchasing an additional 130 shares during the period. Franklin Resources Inc. increased its holdings in shares of Penumbra by 8.2% in the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock valued at $67,473,000 after purchasing an additional 24,091 shares during the period. GAMMA Investing LLC raised its stake in shares of Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after purchasing an additional 275 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Penumbra in the fourth quarter valued at approximately $304,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of recent research reports. Bank of America started coverage on shares of Penumbra in a research report on Friday, March 14th. They set a “buy” rating and a $320.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price target (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on Penumbra from $315.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. BTIG Research reaffirmed a “buy” rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Truist Financial boosted their price target on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $302.40.

Penumbra Price Performance

Penumbra stock opened at $293.09 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The company’s fifty day moving average price is $277.14 and its 200 day moving average price is $258.92. The stock has a market capitalization of $11.35 billion, a P/E ratio of 862.03, a P/E/G ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to analysts’ expectations of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. As a group, equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company’s stock, valued at $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $300.01, for a total transaction of $180,006.00. Following the completion of the transaction, the executive vice president now directly owns 66,159 shares in the company, valued at approximately $19,848,361.59. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,446 shares of company stock worth $39,543,953 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

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.