Penumbra, Inc. (NYSE:PEN) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 265,155 shares of the company's stock after purchasing an additional 42,876 shares during the period. Allspring Global Investments Holdings LLC owned 0.69% of Penumbra worth $66,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new position in shares of Penumbra in the third quarter valued at approximately $209,000. QRG Capital Management Inc. acquired a new stake in shares of Penumbra in the 3rd quarter valued at about $424,000. Hussman Strategic Advisors Inc. bought a new position in shares of Penumbra during the third quarter worth about $508,000. New York Life Investment Management LLC raised its position in Penumbra by 108.1% in the 3rd quarter. New York Life Investment Management LLC now owns 4,074 shares of the company's stock valued at $986,000 after buying an additional 2,116 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Penumbra by 6.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 91,852 shares of the company's stock valued at $22,220,000 after acquiring an additional 5,593 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Trading Up 0.6 %

NYSE PEN traded up $1.36 on Thursday, hitting $222.46. The company's stock had a trading volume of 206,765 shares, compared to its average volume of 349,512. The firm has a market cap of $8.61 billion, a PE ratio of 95.46, a PEG ratio of 2.17 and a beta of 0.51. The company's 50-day moving average is $241.64 and its 200 day moving average is $234.05. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1-year low of $180.93 and a 1-year high of $348.67.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $284.68 million for the quarter, compared to the consensus estimate of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The business's quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. As a group, analysts predict that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the transaction, the executive vice president now owns 64,281 shares in the company, valued at $13,953,476.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now directly owns 64,281 shares in the company, valued at $13,953,476.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Don W. Kassing sold 778 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total value of $182,612.16. Following the transaction, the director now owns 1,345 shares in the company, valued at $315,698.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PEN shares. Piper Sandler reaffirmed an "overweight" rating and set a $290.00 price objective on shares of Penumbra in a research report on Wednesday, April 3rd. Truist Financial reduced their price objective on Penumbra from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut Penumbra from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $289.00 price target on shares of Penumbra in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $284.00 price target on shares of Penumbra in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $304.45.

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.