Sei Investments Co. Increases Position in Penumbra, Inc. (NYSE:PEN)

Sei Investments Co. raised its holdings in Penumbra, Inc. (NYSE:PEN) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,616 shares of the company’s stock after acquiring an additional 17,027 shares during the period. Sei Investments Co.’s holdings in Penumbra were worth $25,557,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. True Wealth Design LLC acquired a new stake in shares of Penumbra in the third quarter valued at approximately $26,000. UMB Bank n.a. grew its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares in the last quarter. Mather Group LLC. increased its stake in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Penumbra by 25.0% during the 4th 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 last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEN. Citigroup raised their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Piper Sandler reiterated 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 raised their target price on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group upped their price target on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

Insider Activity

In other news, CAO Lambert Shiu sold 501 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 32,969 shares in the company, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,518 shares of company stock worth $22,994,979. 5.00% of the stock is currently owned by company insiders.

Penumbra Price Performance

Penumbra stock opened at $275.14 on Thursday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The firm has a market cap of $10.60 billion, a PE ratio of 809.24, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company’s 50 day moving average is $274.34 and its two-hundred day moving average is $241.94.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 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.