Penumbra, Inc. (NYSE:PEN) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,175 shares of the company's stock after acquiring an additional 5,569 shares during the quarter. Alliancebernstein L.P. owned about 0.52% of Penumbra worth $47,538,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEN. Norges Bank purchased a new position in shares of Penumbra in the 4th quarter valued at about $54,396,000. Baillie Gifford & Co. increased its holdings in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after buying an additional 138,387 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after acquiring an additional 85,284 shares during the period. WCM Investment Management LLC purchased a new stake in shares of Penumbra during the 4th quarter worth approximately $13,451,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Penumbra in the 3rd quarter worth approximately $6,995,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Buying and Selling

In other Penumbra news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $266.93, for a total transaction of $96,094.80. Following the completion of the sale, the director now directly owns 4,692 shares in the company, valued at $1,252,435.56. The trade was a 7.13 % 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, CEO Adam Elsesser sold 16,565 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total transaction of $4,509,655.60. Following the completion of the transaction, the chief executive officer now directly owns 52,495 shares in the company, valued at approximately $14,291,238.80. This represents a 23.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Trading Down 2.8 %

NYSE:PEN traded down $7.78 during trading hours on Thursday, reaching $267.69. 95,650 shares of the company were exchanged, compared to its average volume of 408,091. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 787.73, a PEG ratio of 2.83 and a beta of 0.56. The stock has a 50 day simple moving average of $274.05 and a 200 day simple moving average of $247.67. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on PEN shares. Canaccord Genuity Group upped their target price on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Oppenheimer began coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price objective for the company. Royal Bank of Canada upped their target price on Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Penumbra currently has a consensus rating of "Moderate Buy" and an average target price of $294.47.

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.