New Age Alpha Advisors LLC Invests $1.99 Million in Penumbra, Inc. (NYSE:PEN)

New Age Alpha Advisors LLC acquired a new position in Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,398 shares of the company's stock, valued at approximately $1,994,000.

Several other institutional investors also recently modified their holdings of PEN. Janus Henderson Group PLC grew its position in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock valued at $129,967,000 after buying an additional 375,684 shares during the last quarter. Norges Bank bought a new stake in Penumbra in the fourth quarter valued at approximately $54,396,000. Baillie Gifford & Co. increased its position in 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 purchasing an additional 138,387 shares during the period. Polar Asset Management Partners Inc. bought a new position in Penumbra during the 3rd quarter worth approximately $21,475,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Penumbra by 39.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock worth $71,831,000 after purchasing an additional 85,284 shares during the period. Institutional investors own 88.88% of the company's stock.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now directly owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the firm's stock in a transaction dated 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 owns 16,376 shares of the company's stock, valued at $4,644,069.84. This trade represents a 79.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,236 shares of company stock worth $31,222,390 in the last 90 days. Insiders own 5.00% of the company's stock.

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Penumbra Stock Down 4.0 %

NYSE PEN traded down $10.87 on Friday, reaching $262.37. The company had a trading volume of 576,790 shares, compared to its average volume of 406,932. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The company's fifty day moving average is $274.48 and its 200 day moving average is $245.21. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The stock has a market capitalization of $10.11 billion, a P/E ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.51.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PEN shares. Royal Bank of Canada increased their price objective on shares of Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Piper Sandler reissued an "overweight" rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Truist Financial boosted their price objective on Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, StockNews.com lowered Penumbra from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.