Meridiem Capital Partners LP Acquires New Holdings in Penumbra, Inc. (NYSE:PEN)

Meridiem Capital Partners LP acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,129 shares of the company's stock, valued at approximately $7,155,000. Meridiem Capital Partners LP owned 0.08% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PEN. Baillie Gifford & Co. raised its position in Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after buying an additional 227,506 shares during the period. Bank of America Corp DE increased its holdings in shares of Penumbra by 19.9% in the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after buying an additional 57,421 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after buying an additional 60,764 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Penumbra by 20.8% in the fourth quarter. Northern Trust Corp now owns 318,230 shares of the company's stock worth $75,573,000 after buying an additional 54,890 shares during the period. Institutional investors own 88.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Truist Financial boosted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, StockNews.com upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Buying and Selling at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company's stock, valued at $4,359,498. This trade represents a 11.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the sale, the executive vice president now directly owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,696 shares of company stock valued at $50,207,745 in the last 90 days. Insiders own 4.20% of the company's stock.

Penumbra Price Performance

Shares of PEN traded up $5.78 during midday trading on Friday, hitting $281.10. 711,568 shares of the company traded hands, compared to its average volume of 440,534. The firm has a 50 day moving average of $279.37 and a 200-day moving average of $263.71. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 826.76, a PEG ratio of 2.83 and a beta of 0.53. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business's revenue was up 16.3% on a year-over-year basis. On average, analysts forecast 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.