T. Rowe Price Investment Management Inc. Acquires 227,506 Shares of Penumbra, Inc. (NYSE:PEN)

T. Rowe Price Investment Management Inc. grew its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 47.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 707,061 shares of the company's stock after acquiring an additional 227,506 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.84% of Penumbra worth $167,913,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC bought a new stake in shares of Penumbra in the 4th quarter valued at $56,000. Huntington National Bank raised its stake in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after buying an additional 154 shares during the period. Mather Group LLC. lifted its holdings in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after acquiring an additional 75 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares in the company, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the sale, the chief accounting officer now owns 32,969 shares in the company, valued at $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,446 shares of company stock valued at $35,959,193 over the last 90 days. 5.00% of the stock is owned by insiders.

Penumbra Price Performance

Shares of NYSE PEN traded down $2.27 during mid-day trading on Monday, hitting $297.51. 489,305 shares of the stock traded hands, compared to its average volume of 424,851. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The firm has a 50 day simple moving average of $276.99 and a two-hundred day simple moving average of $255.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market cap of $11.52 billion, a PE ratio of 875.03, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56.

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, beating 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 company had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. 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 report on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Canaccord Genuity Group raised their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, Truist Financial upped their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $302.40.

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.