Susquehanna Fundamental Investments LLC Acquires New Stake in Penumbra, Inc. (NYSE:PEN)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,584 shares of the company's stock, valued at approximately $7,976,000. Susquehanna Fundamental Investments LLC owned about 0.09% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new stake in Penumbra during the fourth quarter valued at $573,000. E. Ohman J or Asset Management AB increased its position in Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock worth $5,061,000 after buying an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after buying an additional 3,807 shares in the last quarter. Washington Capital Management Inc. purchased a new stake in Penumbra in the fourth quarter worth about $226,000. Finally, Allspring Global Investments Holdings LLC increased its position in Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock worth $71,831,000 after buying an additional 85,284 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PEN. StockNews.com upgraded Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday. Stifel Nicolaus set a $318.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Thursday. Truist Financial upped their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Finally, BTIG Research restated a "buy" rating on shares of Penumbra in a research report 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Activity

In other news, Director Arani Bose sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the sale, the director now directly owns 314,819 shares of the company's stock, valued at $89,336,187.63. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 61,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the sale, the chief executive officer now directly owns 16,376 shares of the company's stock, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,446 shares of company stock valued at $35,959,193 in the last ninety days. Insiders own 5.00% of the company's stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $300.50 on Monday. The stock has a 50 day moving average of $276.99 and a 200 day moving average of $255.22. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The firm has a market cap of $11.64 billion, a PE ratio of 883.82, a PEG ratio of 2.83 and a beta of 0.56. 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 (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. On average, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal 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.

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