Penumbra, Inc. (NYSE:PEN) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its holdings in Penumbra, Inc. (NYSE:PEN) by 496.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 358 shares of the company’s stock after acquiring an additional 298 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Penumbra were worth $90,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Aigen Investment Management LP acquired a new position in shares of Penumbra in the 3rd quarter valued at $209,000. QRG Capital Management Inc. acquired a new position in Penumbra in the 3rd quarter valued at $424,000. Hussman Strategic Advisors Inc. acquired a new position in Penumbra in the 3rd quarter valued at $508,000. New York Life Investment Management LLC increased its stake in Penumbra by 108.1% in the 3rd quarter. New York Life Investment Management LLC now owns 4,074 shares of the company’s stock valued at $986,000 after buying an additional 2,116 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Penumbra by 6.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 91,852 shares of the company’s stock valued at $22,220,000 after buying an additional 5,593 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEN has been the topic of several recent research reports. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Truist Financial lowered their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research note on Wednesday, April 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $284.00 price target on shares of Penumbra in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.45.

Penumbra Price Performance

Penumbra stock opened at $202.72 on Friday. Penumbra, Inc. has a 52 week low of $180.93 and a 52 week high of $348.67. 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’s 50-day simple moving average is $234.52 and its 200 day simple moving average is $232.52. The firm has a market capitalization of $7.85 billion, a PE ratio of 87.76, a P/E/G ratio of 1.99 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The business had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. During the same period in the previous year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, equities research analysts predict that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Arani Bose sold 7,500 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the sale, the director now directly owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Penumbra news, Director Arani Bose sold 7,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the transaction, the director now directly owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Don W. Kassing sold 778 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $234.72, for a total transaction of $182,612.16. Following the completion of the transaction, the director now owns 1,345 shares in the company, valued at $315,698.40. 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 three months. Corporate insiders own 5.30% of the company’s stock.

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.