SG Americas Securities LLC Grows Position in Penumbra, Inc. (NYSE:PEN)

SG Americas Securities LLC grew its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 143.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,332 shares of the company's stock after buying an additional 5,499 shares during the quarter. SG Americas Securities LLC's holdings in Penumbra were worth $2,495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PEN. RTW Investments LP raised its position in shares of Penumbra by 8.4% during the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after acquiring an additional 66,700 shares in the last quarter. Baillie Gifford & Co. raised its stake in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after acquiring an additional 138,387 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after acquiring an additional 227,506 shares during the last quarter. Bank of America Corp DE boosted its stake in Penumbra by 19.9% in the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock valued at $82,293,000 after acquiring an additional 57,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after acquiring an additional 60,764 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEN has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Canaccord Genuity Group upped their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Royal Bank Of Canada raised their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Finally, Truist Financial raised their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Price Performance

Penumbra stock traded up $1.57 during mid-day trading on Wednesday, reaching $257.52. The company had a trading volume of 139,336 shares, compared to its average volume of 450,401. The stock's 50-day simple moving average is $275.40 and its 200-day simple moving average is $267.46. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. The company has a market capitalization of $9.97 billion, a P/E ratio of 243.06, a P/E/G ratio of 2.33 and a beta of 0.49.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The business's revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. On average, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In related news, Director Arani Bose sold 12,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the sale, the director now directly owns 314,819 shares in the company, valued at approximately $89,336,187.63. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 16,565 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $272.24, for a total transaction of $4,509,655.60. Following the transaction, the chief executive officer now directly owns 52,495 shares in the company, valued at approximately $14,291,238.80. This represents a 23.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,155 shares of company stock valued at $35,810,785 in the last ninety days. Corporate insiders own 5.00% of the company's stock.

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.