First Trust Advisors LP Buys Shares of 41,963 Penumbra, Inc. (NYSE:PEN)

First Trust Advisors LP bought a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,963 shares of the company's stock, valued at approximately $9,965,000. First Trust Advisors LP owned approximately 0.11% of Penumbra as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Penumbra in the 4th quarter valued at $54,396,000. Baillie Gifford & Co. increased its holdings in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after buying an additional 138,387 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after buying an additional 85,284 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Penumbra during the 4th quarter worth about $13,451,000. Finally, Marshall Wace LLP boosted its position in shares of Penumbra by 2,312.3% during the 4th quarter. Marshall Wace LLP now owns 43,952 shares of the company's stock worth $10,438,000 after acquiring an additional 42,130 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction 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 directly owns 66,159 shares of the company's stock, valued at $19,848,361.59. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,446 shares of company stock worth $39,543,953. Company insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. StockNews.com upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird upped their target price on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Truist Financial upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Stock Performance

Shares of NYSE PEN traded up $4.15 during mid-day trading on Friday, hitting $295.97. 382,737 shares of the company were exchanged, compared to its average volume of 427,632. The stock has a 50 day simple moving average of $277.12 and a 200-day simple moving average of $258.33. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 870.50, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share 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 for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business's quarterly revenue was up 16.3% compared to the same quarter last year. On average, sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.