Canada Pension Plan Investment Board Has $2.71 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Canada Pension Plan Investment Board reduced its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,400 shares of the company's stock after selling 20,200 shares during the quarter. Canada Pension Plan Investment Board's holdings in Penumbra were worth $2,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Penumbra during the 4th quarter worth about $54,396,000. Baillie Gifford & Co. lifted its stake in Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after purchasing an additional 138,387 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Penumbra by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock worth $71,831,000 after purchasing an additional 85,284 shares during the period. WCM Investment Management LLC acquired a new stake in Penumbra during the fourth quarter valued at approximately $13,451,000. Finally, Marshall Wace LLP grew its stake in shares of Penumbra by 2,312.3% in the 4th quarter. Marshall Wace LLP now owns 43,952 shares of the company's stock valued at $10,438,000 after purchasing an additional 42,130 shares during the period. 88.88% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $300.01, for a total transaction of $180,006.00. Following the transaction, the executive vice president now owns 66,159 shares of the company's stock, valued at $19,848,361.59. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 61,600 shares of the 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 completion of the sale, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,446 shares of company stock valued at $35,959,193 in the last 90 days. 5.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEN. Morgan Stanley boosted their price target on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday. UBS Group reissued a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a report on Thursday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $330.00 price objective (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Trading Down 0.8 %

Penumbra stock traded down $2.27 during mid-day trading on Monday, hitting $297.51. The stock had a trading volume of 489,787 shares, compared to its average volume of 424,854. The stock has a 50-day simple moving average of $276.87 and a two-hundred day simple moving average of $255.88. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.52 billion, a PE ratio of 875.03, a P/E/G ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. As a group, sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current 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.