Olympiad Research LP Invests $253,000 in Penumbra, Inc. (NYSE:PEN)

Olympiad Research LP bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,066 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors have also made changes to their positions in PEN. China Universal Asset Management Co. Ltd. acquired a new stake in Penumbra in the fourth quarter valued at $573,000. State Street Corp raised its holdings in Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after acquiring an additional 358,932 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings 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 valued at $5,061,000 after acquiring an additional 2,000 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Penumbra in the third quarter valued at $777,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 over the last three months. 5.00% of the stock is currently owned by company insiders.

Penumbra Stock Down 3.5 %

Shares of NYSE PEN opened at $292.52 on Monday. The stock has a market cap of $11.27 billion, a PE ratio of 860.35, a PEG ratio of 2.83 and a beta of 0.53. The business has a fifty day moving average of $259.09 and a two-hundred day moving average of $228.69. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share 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 company had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. As a group, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PEN. Piper Sandler reissued an “overweight” rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. UBS Group increased their target price on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company increased their target price on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $292.64.

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.