Natixis Invests $444,000 in Penumbra, Inc. (NYSE:PEN)

Natixis purchased a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,869 shares of the company's stock, valued at approximately $444,000.

Several other institutional investors and hedge funds have also bought and sold shares of PEN. Norges Bank purchased a new position in shares of Penumbra during the fourth quarter worth $54,396,000. Baillie Gifford & Co. raised its stake in shares of Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after buying an additional 138,387 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Penumbra by 39.8% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after buying an additional 60,764 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in shares of Penumbra in the fourth quarter worth about $13,451,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEN has been the subject of several recent research reports. StockNews.com upgraded Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a report on Thursday. Piper Sandler reaffirmed an "overweight" rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Finally, UBS Group reissued a "buy" rating and set a $330.00 target price (up from $320.00) on shares of Penumbra in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Stock Up 0.8 %

Shares of PEN stock traded up $2.25 on Friday, reaching $300.50. 608,778 shares of the stock were exchanged, compared to its average volume of 424,593. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 883.82, a PEG ratio of 2.83 and a beta of 0.56. The business's 50 day moving average price is $276.99 and its 200 day moving average price is $254.78. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. As a group, sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In related news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the transaction, the chief financial officer now directly owns 15,243 shares of the company's stock, valued at $4,359,498. This trade represents a 11.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the sale, the director now owns 4,533 shares in the company, valued at $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,446 shares of company stock worth $35,959,193 over the last three months. Insiders own 5.00% of the company's stock.

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.