Penumbra, Inc. (NYSE:PEN) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC boosted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 7.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 23,233 shares of the company's stock after acquiring an additional 1,513 shares during the period. MetLife Investment Management LLC owned about 0.06% of Penumbra worth $5,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Penumbra by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after purchasing an additional 60,764 shares during the last quarter. First Trust Advisors LP purchased a new stake in Penumbra during the 4th quarter worth approximately $9,965,000. Commerce Bank acquired a new position in shares of Penumbra during the fourth quarter valued at approximately $275,000. Farringdon Capital Ltd. purchased a new position in shares of Penumbra in the fourth quarter valued at approximately $632,000. Finally, Marshall Wace LLP boosted its stake in shares of Penumbra by 2,312.3% in the fourth 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 during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEN. Bank of America began coverage on Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective on the stock. Royal Bank of Canada boosted their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Piper Sandler restated an "overweight" rating and issued a $330.00 price target (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. 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 stock. According to MarketBeat.com, Penumbra has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Activity at Penumbra

In related news, CAO Lambert Shiu sold 501 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total transaction of $141,722.88. Following the transaction, the chief accounting officer now owns 32,969 shares of the company's stock, valued at approximately $9,326,270.72. This represents a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $300.01, for a total value of $180,006.00. Following the completion of the transaction, the executive vice president now directly owns 66,159 shares of the company's stock, valued at approximately $19,848,361.59. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,446 shares of company stock worth $35,959,193. Insiders own 5.00% of the company's stock.

Penumbra Trading Down 0.8 %

Shares of NYSE PEN traded down $2.44 during mid-day trading on Tuesday, reaching $294.89. 90,761 shares of the company's stock were exchanged, compared to its average volume of 423,573. The company's 50-day moving average is $276.87 and its 200-day moving average is $255.88. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 867.15, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Penumbra's revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Analysts expect 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.