Penumbra, Inc. (NYSE:PEN) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Penumbra, Inc. (NYSE:PENFree Report) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,881 shares of the company’s stock after buying an additional 8,029 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.26% of Penumbra worth $25,124,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PEN. Norges Bank acquired a new position in shares of Penumbra during the 4th quarter worth approximately $85,222,000. Rock Springs Capital Management LP raised its stake in Penumbra by 37.6% in the 3rd quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock valued at $121,862,000 after purchasing an additional 137,750 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Penumbra by 45.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 146,218 shares of the company’s stock valued at $36,780,000 after purchasing an additional 45,983 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Penumbra by 19.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock valued at $66,697,000 after purchasing an additional 42,876 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Penumbra by 42.5% in the 3rd quarter. Federated Hermes Inc. now owns 137,609 shares of the company’s stock valued at $33,289,000 after purchasing an additional 41,074 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Performance

NYSE PEN opened at $189.07 on Friday. The stock has a fifty day simple moving average of $204.63 and a 200-day simple moving average of $230.79. Penumbra, Inc. has a twelve month low of $180.93 and a twelve month high of $348.67. The stock has a market cap of $7.33 billion, a PE ratio of 79.78, a P/E/G ratio of 1.99 and a beta of 0.59. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PENGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The firm had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same quarter last year, the business earned $0.23 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. Equities analysts anticipate that Penumbra, Inc. will post 2.87 earnings per share for the current year.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $188.90, for a total transaction of $113,340.00. Following the completion of the transaction, the executive vice president now directly owns 62,888 shares in the company, valued at approximately $11,879,543.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $188.90, for a total value of $113,340.00. Following the completion of the transaction, the executive vice president now owns 62,888 shares in the company, valued at approximately $11,879,543.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the transaction, the director now owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The disclosure for this sale can be found here. Insiders sold 16,970 shares of company stock worth $3,420,669 in the last three months. 5.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on PEN. Truist Financial reduced their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Piper Sandler reduced their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group cut their target price on Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $300.64.

Check Out Our Latest Stock Analysis on PEN

About Penumbra

(Free Report)

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.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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