Meiji Yasuda Asset Management Co Ltd. Makes New $223,000 Investment in Penumbra, Inc. (NYSE:PEN)

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 937 shares of the company's stock, valued at approximately $223,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Penumbra by 128.1% during the 3rd 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 boosted its stake in Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company's stock worth $70,229,000 after acquiring an additional 148,834 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after acquiring an additional 138,387 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Penumbra in the third quarter worth $21,475,000. Finally, Allspring Global Investments Holdings LLC increased its stake in 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 purchasing an additional 85,284 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

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Analysts Set New Price Targets

Several analysts have recently commented on PEN shares. Piper Sandler restated an "overweight" rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Royal Bank of Canada upped their target price on Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Finally, Truist Financial boosted their price target on shares of Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $294.47.

Penumbra Stock Up 1.2 %

NYSE:PEN traded up $3.34 on Wednesday, hitting $274.47. The stock had a trading volume of 93,053 shares, compared to its average volume of 476,550. The firm's fifty day simple moving average is $274.68 and its two-hundred day simple moving average is $244.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The stock has a market cap of $10.57 billion, a P/E ratio of 807.26, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. 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 data 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 analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.