Gotham Asset Management LLC Takes Position in Penumbra, Inc. (NYSE:PEN)

Gotham Asset Management LLC acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,157 shares of the company's stock, valued at approximately $275,000.

A number of other institutional investors have also made changes to their positions in PEN. UMB Bank n.a. increased its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares in the last quarter. Hurley Capital LLC acquired a new stake in Penumbra in the 4th quarter valued at approximately $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. boosted its holdings in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Penumbra by 25.0% in 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 in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEN shares. Piper Sandler reaffirmed 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. Canaccord Genuity Group lifted their price objective on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Morgan Stanley increased their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Stock Performance

Shares of Penumbra stock traded up $1.97 during mid-day trading on Monday, hitting $268.72. 235,921 shares of the stock were exchanged, compared to its average volume of 443,992. The company has a 50-day simple moving average of $279.45 and a 200 day simple moving average of $265.62. The company has a market capitalization of $10.41 billion, a P/E ratio of 790.35, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. Sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, Director Bridget O'rourke sold 100 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $286.15, for a total value of $28,615.00. Following the sale, the director now directly owns 5,423 shares in the company, valued at $1,551,791.45. This represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were 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 $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 176,696 shares of company stock worth $50,207,745 over the last 90 days. Corporate insiders own 4.20% of the company's stock.

Penumbra 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.