Penumbra, Inc. (NYSE:PEN) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 66.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,999 shares of the company's stock after purchasing an additional 2,387 shares during the period. Cerity Partners LLC's holdings in Penumbra were worth $1,400,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Morgan Stanley increased their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Truist Financial lowered their target price on shares of Penumbra from $325.00 to $315.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their price target on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra currently has a consensus rating of "Moderate Buy" and an average price target of $293.93.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now directly owns 4,533 shares in the company, valued at approximately $1,199,341.14. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,846 shares of company stock worth $35,779,187. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Stock Up 1.0 %

PEN traded up $2.77 on Wednesday, reaching $279.99. The company's stock had a trading volume of 172,474 shares, compared to its average volume of 477,728. 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's 50 day moving average is $275.59 and its 200 day moving average is $252.75. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 823.50, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56.

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