Artisan Partners Limited Partnership Buys 5,470 Shares of Penumbra, Inc. (NYSE:PEN)

Artisan Partners Limited Partnership boosted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 296,058 shares of the company’s stock after purchasing an additional 5,470 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Penumbra were worth $70,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Penumbra during the fourth quarter worth approximately $573,000. State Street Corp raised its position in Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after purchasing an additional 3,863 shares during the last quarter. E. Ohman J or Asset Management AB boosted its stake 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 purchasing an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 3,807 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Penumbra by 1.7% during the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after purchasing an additional 11,257 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PEN shares. Bank of America began coverage on shares of Penumbra in a research report on Friday, March 14th. They set a “buy” rating and a $320.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Truist Financial increased their price objective on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their target price on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four research 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 stock. According to MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Insider Buying and Selling

In other news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 16,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $276.21, for a total value of $4,585,086.00. Following the completion of the transaction, the chief executive officer now owns 27,752 shares of the company’s stock, valued at $7,665,379.92. This represents a 37.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,518 shares of company stock valued at $26,400,219. 5.00% of the stock is owned by company insiders.

Penumbra Stock Performance

Shares of PEN stock opened at $268.89 on Friday. The stock has a market cap of $10.36 billion, a PE ratio of 790.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The stock has a 50-day moving average of $274.49 and a 200-day moving average of $242.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.