KLP Kapitalforvaltning AS Makes New $1.78 Million Investment in Penumbra, Inc. (NYSE:PEN)

KLP Kapitalforvaltning AS purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,500 shares of the company's stock, valued at approximately $1,781,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its holdings in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after purchasing an additional 43 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Penumbra by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,767 shares of the company's stock worth $52,030,000 after buying an additional 4,848 shares during the last quarter. Cerity Partners LLC boosted its stake in Penumbra by 19.2% during the third quarter. Cerity Partners LLC now owns 3,612 shares of the company's stock worth $702,000 after buying an additional 583 shares during the period. Qsemble Capital Management LP bought a new position in Penumbra during the third quarter valued at $242,000. Finally, FMR LLC raised its stake in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company's stock valued at $1,145,729,000 after acquiring an additional 121,465 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares of the company's stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,518 shares of company stock worth $26,400,219 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

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Penumbra Stock Up 1.4 %

NYSE PEN traded up $3.78 during midday trading on Tuesday, hitting $271.19. 411,257 shares of the company traded hands, compared to its average volume of 404,655. The company has a market cap of $10.45 billion, a PE ratio of 797.62, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. 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 52 week low of $148.00 and a 52 week high of $310.00. The company's 50-day simple moving average is $274.68 and its 200-day simple moving average is $244.25.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PEN shares. JPMorgan Chase & Co. lifted their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Citigroup upped their target price on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Piper Sandler reissued an "overweight" rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Wells Fargo & Company upped their price objective on Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their target price on shares of Penumbra from $305.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Four equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $294.47.

About Penumbra

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.