Loomis Sayles & Co. L P Boosts Position in Penumbra, Inc. (NYSE:PEN)

Loomis Sayles & Co. L P raised its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,280 shares of the company's stock after buying an additional 9,897 shares during the quarter. Loomis Sayles & Co. L P owned about 0.32% of Penumbra worth $29,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in shares of Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock worth $129,967,000 after buying an additional 375,684 shares in the last quarter. Braidwell LP grew its stake in shares of Penumbra by 70.0% in the 3rd quarter. Braidwell LP now owns 361,428 shares of the company's stock worth $70,229,000 after buying an additional 148,834 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after acquiring an additional 138,387 shares during the last quarter. FMR LLC lifted its stake in shares of Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company's stock valued at $1,145,729,000 after purchasing an additional 121,465 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in Penumbra during the 3rd quarter valued at about $21,475,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Penumbra Price Performance

PEN stock traded up $2.89 during midday trading on Tuesday, reaching $270.30. The stock had a trading volume of 86,115 shares, compared to its average volume of 403,005. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company's fifty day simple moving average is $274.62 and its 200 day simple moving average is $243.66. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 793.57, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 note on Wednesday, February 19th. Truist Financial boosted 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. Bank of America initiated coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Wells Fargo & Company upped their target price on Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lifted their target price on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report 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's stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of "Moderate Buy" and a consensus price target of $294.47.

Insider Buying and Selling at Penumbra

In other news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,243 shares of the company's stock, valued at approximately $4,359,498. This represents a 11.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the transaction, the director now directly owns 314,819 shares in the company, valued at approximately $89,336,187.63. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,518 shares of company stock valued at $26,400,219 in the last quarter. Corporate insiders own 5.00% of the company's stock.

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.