Motley Fool Asset Management LLC Grows Position in Penumbra, Inc. (NYSE:PEN)

Motley Fool Asset Management LLC grew its stake in Penumbra, Inc. (NYSE:PEN) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 7,029 shares of the company’s stock after buying an additional 558 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Penumbra were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Penumbra by 6.4% in the 3rd quarter. Invesco Ltd. now owns 551,923 shares of the company’s stock worth $133,516,000 after acquiring an additional 33,107 shares during the last quarter. Rock Springs Capital Management LP grew its holdings in shares of Penumbra by 37.6% during the 3rd 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 during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Penumbra by 19.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after purchasing an additional 42,876 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Penumbra by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,103 shares of the company’s stock worth $57,841,000 after purchasing an additional 6,436 shares during the period. Finally, Redmile Group LLC grew its holdings in shares of Penumbra by 11.6% during the 3rd quarter. Redmile Group LLC now owns 155,076 shares of the company’s stock worth $37,514,000 after purchasing an additional 16,106 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the transaction, the executive vice president now directly owns 62,997 shares in the company, valued at $14,973,126.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Don W. Kassing sold 778 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the sale, the director now directly owns 1,345 shares in the company, valued at approximately $315,698.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The disclosure for this sale can be found here. Insiders have sold 9,648 shares of company stock worth $2,369,903 over the last three months. Company insiders own 5.30% of the company’s stock.

Penumbra Price Performance

Shares of PEN traded down $1.09 during midday trading on Friday, reaching $204.41. The stock had a trading volume of 290,640 shares, compared to its average volume of 342,252. 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 current ratio of 6.06 and a quick ratio of 3.49. The firm’s 50 day moving average price is $229.40 and its 200-day moving average price is $231.88. The company has a market capitalization of $7.91 billion, a P/E ratio of 88.96, a P/E/G ratio of 2.04 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its quarterly 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 return on equity of 7.49% and a net margin of 8.59%. The company had revenue of $284.68 million during the quarter, compared to analysts’ expectations of $286.62 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. On average, analysts forecast that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of research analyst reports. Truist Financial lowered their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $284.00 target price on shares of Penumbra in a research report on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $290.00 target price on shares of Penumbra in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.45.

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.