Motley Fool Asset Management LLC Acquires 558 Shares of Penumbra, Inc. (NYSE:PEN)

Motley Fool Asset Management LLC lifted its position in Penumbra, Inc. (NYSE:PEN) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,029 shares of the company’s stock after purchasing an additional 558 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Penumbra were worth $1,768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. RiverPark Advisors LLC acquired a new stake in shares of Penumbra in the third quarter valued at $42,000. Signaturefd LLC increased its stake in shares of Penumbra by 27.2% in the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after buying an additional 46 shares in the last quarter. Covestor Ltd increased its stake in shares of Penumbra by 357.9% in the third quarter. Covestor Ltd now owns 348 shares of the company’s stock valued at $84,000 after buying an additional 272 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Penumbra by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock valued at $90,000 after buying an additional 298 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Penumbra by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after purchasing an additional 46 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at approximately $14,973,126.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Penumbra news, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares of the company’s stock, valued at $262,236.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at approximately $14,973,126.96. The disclosure for this sale can be found here. Insiders have sold 9,648 shares of company stock worth $2,369,903 in the last 90 days. Insiders own 5.30% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE:PEN traded down $1.09 during midday trading on Friday, reaching $204.41. 290,640 shares of the company traded hands, compared to its average volume of 342,252. Penumbra, Inc. has a 12 month low of $180.93 and a 12 month high of $348.67. The firm’s fifty day moving average price is $229.40 and its two-hundred day moving average price is $231.88. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 88.96, a price-to-earnings-growth ratio of 2.04 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The business had revenue of $284.68 million during the quarter, compared to analyst estimates of $286.62 million. During the same quarter in the prior year, the company posted $0.16 EPS. Penumbra’s quarterly revenue was up 28.7% compared to the same quarter last year. On average, equities analysts expect that Penumbra, Inc. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on PEN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research report on Wednesday, April 3rd. TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. JPMorgan Chase & Co. lowered Penumbra from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $284.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.45.

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.