Penumbra, Inc. (NYSE:PEN) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in Penumbra, Inc. (NYSE:PEN) by 496.7% in the fourth quarter, HoldingsChannel reports. The fund owned 358 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Penumbra were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Penumbra by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,407,434 shares of the company’s stock worth $646,050,000 after acquiring an additional 68,266 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Penumbra by 104.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,185,062 shares of the company’s stock worth $608,956,000 after acquiring an additional 1,115,176 shares during the period. State Street Corp lifted its stake in shares of Penumbra by 1.5% in the 2nd quarter. State Street Corp now owns 1,061,701 shares of the company’s stock worth $365,289,000 after acquiring an additional 16,028 shares during the period. Invesco Ltd. lifted 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 period. Finally, Geode Capital Management LLC lifted its stake in shares of Penumbra by 3.7% in the 1st quarter. Geode Capital Management LLC now owns 517,805 shares of the company’s stock worth $144,307,000 after acquiring an additional 18,468 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PEN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $289.00 target price on shares of Penumbra in a 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 report on Friday, February 23rd. TheStreet upgraded shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $290.00 target price on shares of Penumbra in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $304.45.

Penumbra Stock Up 0.4 %

PEN stock opened at $202.72 on Friday. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The company’s 50 day simple moving average is $234.52 and its 200-day simple moving average is $232.52. 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 has a market capitalization of $7.85 billion, a P/E ratio of 87.76, a P/E/G ratio of 1.99 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating 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 business had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. During the same quarter in the previous year, the business 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 anticipate that Penumbra, Inc. will post 2.85 EPS for the current year.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total value of $142,608.00. Following the transaction, the executive vice president now owns 62,997 shares in the company, valued at approximately $14,973,126.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Penumbra news, Director Don W. Kassing sold 778 shares of the company’s 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 in the company, valued at approximately $315,698.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the transaction, the executive vice president now owns 62,997 shares in the company, valued at approximately $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 90 days. 5.30% of the stock is owned by company 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.