Penumbra, Inc. (NYSE:PEN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 294,620 shares of the company's stock after purchasing an additional 1,823 shares during the quarter. Bank of New York Mellon Corp owned about 0.77% of Penumbra worth $69,966,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in Penumbra in the third quarter valued at $26,000. UMB Bank n.a. raised its holdings in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares during the period. Mather Group LLC. lifted its stake in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after purchasing an additional 208 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock valued at $81,000 after purchasing an additional 43 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Penumbra by 160.8% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company's stock worth $106,000 after purchasing an additional 275 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.1 %

PEN traded down $0.21 during trading on Friday, hitting $277.49. The company had a trading volume of 124,597 shares, compared to its average volume of 392,995. The company has a market cap of $10.69 billion, a PE ratio of 816.18, a P/E/G ratio of 2.83 and a beta of 0.53. 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, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The business has a 50-day moving average of $266.68 and a 200-day moving average of $234.56.

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

Insider Activity

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,243 shares in the company, valued at $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,318 shares of company stock worth $4,585,149. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Penumbra from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Morgan Stanley increased their price target on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Truist Financial boosted their price objective on Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $292.64.

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.