Farringdon Capital Ltd. Buys New Stake in Penumbra, Inc. (NYSE:PEN)

Farringdon Capital Ltd. purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,661 shares of the company's stock, valued at approximately $632,000.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its stake in shares of Penumbra by 16.5% in the 3rd quarter. Barclays PLC now owns 18,025 shares of the company's stock valued at $3,502,000 after buying an additional 2,559 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Penumbra by 14.1% in the 3rd quarter. M&T Bank Corp now owns 1,445 shares of the company's stock valued at $281,000 after purchasing an additional 179 shares during the period. Geode Capital Management LLC boosted its stake in Penumbra by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company's stock worth $127,417,000 after acquiring an additional 11,257 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Penumbra during the third quarter worth $367,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Penumbra during the 3rd quarter worth $6,995,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Performance

Penumbra stock traded up $3.74 during trading on Tuesday, hitting $274.38. The stock had a trading volume of 234,069 shares, compared to its average volume of 413,980. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 807.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. The stock's 50 day moving average is $275.53 and its two-hundred day moving average is $252.59. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

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

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 360 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,846 shares of company stock worth $35,779,187. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEN shares. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, UBS Group upped their price objective on Penumbra from $305.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Penumbra currently has an average rating of "Moderate Buy" and an average price target of $293.93.

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.