Jennison Associates LLC Makes New $7.50 Million Investment in Penumbra, Inc. (NYSE:PEN)

Jennison Associates LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 29,829 shares of the company's stock, valued at approximately $7,503,000. Jennison Associates LLC owned 0.08% of Penumbra as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PEN. Handelsbanken Fonder AB grew its position in shares of Penumbra by 36.0% in the 4th quarter. Handelsbanken Fonder AB now owns 9,058 shares of the company's stock worth $2,278,000 after buying an additional 2,400 shares during the last quarter. Signaturefd LLC grew its position in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company's stock worth $54,000 after buying an additional 46 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its position in shares of Penumbra by 22.2% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 3,575 shares of the company's stock worth $899,000 after buying an additional 650 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Penumbra in the 4th quarter worth approximately $313,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Penumbra in the 4th quarter worth approximately $2,717,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

NYSE PEN traded down $1.09 on Friday, hitting $204.41. 290,642 shares of the company's stock traded hands, compared to its average volume of 280,432. The company has a current ratio of 6.06, a quick ratio of 3.49 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. The firm's 50-day moving average price is $228.07 and its two-hundred day moving average price is $231.75. The firm has a market capitalization of $7.92 billion, a PE ratio of 88.49, a P/E/G ratio of 2.03 and a beta of 0.51.

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

Wall Street Analyst Weigh In

PEN has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $290.00 price objective on shares of Penumbra in a research report on Wednesday, April 3rd. TheStreet raised shares of Penumbra from a "d+" rating to a "c-" rating in a research report on Friday, January 12th. Royal Bank of Canada reissued an "outperform" rating and set a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Canaccord Genuity Group reissued a "buy" rating and set a $284.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Finally, Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Penumbra presently has an average rating of "Moderate Buy" and an average target price of $304.45.

Insider Buying and Selling

In related news, Director Arani Bose sold 7,500 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now directly owns 164,294 shares of the company's stock, valued at $41,106,358.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the sale, the executive vice president now directly owns 64,281 shares of the company's stock, valued at $13,953,476.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arani Bose sold 7,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now directly owns 164,294 shares in the company, valued at $41,106,358.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,648 shares of company stock valued at $2,369,903. Corporate insiders own 5.30% of the company's stock.

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.