New York Life Investment Management LLC Has $1.10 Million Stake in Penumbra, Inc. (NYSE:PEN)

New York Life Investment Management LLC grew its position in Penumbra, Inc. (NYSE:PEN) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,358 shares of the company’s stock after buying an additional 284 shares during the quarter. New York Life Investment Management LLC’s holdings in Penumbra were worth $1,096,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PEN. Invesco Ltd. lifted its stake in Penumbra by 6.4% in the 3rd quarter. Invesco Ltd. now owns 551,923 shares of the company’s stock valued at $133,516,000 after purchasing an additional 33,107 shares during the last quarter. Rock Springs Capital Management LP increased 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 acquiring an additional 137,750 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Penumbra by 19.3% during the fourth 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. boosted its position in Penumbra by 2.8% during the third 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 increased its holdings in shares of Penumbra by 11.6% in the third quarter. Redmile Group LLC now owns 155,076 shares of the company’s stock valued at $37,514,000 after purchasing an additional 16,106 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Penumbra

In other Penumbra news, Director Don W. Kassing sold 778 shares of the business’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 transaction of $182,612.16. Following the sale, the director now directly owns 1,345 shares of the company’s stock, valued at approximately $315,698.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Penumbra news, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the transaction, the director now directly owns 1,345 shares of the company’s stock, valued at approximately $315,698.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now owns 64,281 shares in the company, valued at approximately $13,953,476.67. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock worth $2,369,903 in the last quarter. 5.00% of the stock is owned by insiders.

Penumbra Stock Performance

Shares of Penumbra stock opened at $210.00 on Wednesday. The company’s 50 day moving average price is $221.64 and its two-hundred day moving average price is $232.02. The firm has a market capitalization of $8.14 billion, a P/E ratio of 90.91, a P/E/G ratio of 2.06 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67.

Penumbra (NYSE:PEN) last posted its earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The firm had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same period last year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 28.7% on a year-over-year basis. On average, equities 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.