Northern Trust Corp Has $75.57 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Northern Trust Corp boosted its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 318,230 shares of the company's stock after buying an additional 54,890 shares during the quarter. Northern Trust Corp owned 0.83% of Penumbra worth $75,573,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. increased its position in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after acquiring an additional 70 shares in the last quarter. Hurley Capital LLC acquired a new position in Penumbra in the 4th quarter worth approximately $56,000. Huntington National Bank grew its position in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. grew its position in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after purchasing an additional 75 shares during the period. Institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PEN. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Morgan Stanley upped their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Robert W. Baird boosted their price objective on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and an average target price of $302.40.

Penumbra Stock Performance

Shares of NYSE PEN traded up $8.52 during trading hours on Friday, hitting $297.25. 972,988 shares of the stock were exchanged, compared to its average volume of 426,508. The firm has a market capitalization of $11.51 billion, a P/E ratio of 874.26, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company's 50 day moving average is $277.75 and its 200 day moving average is $260.55.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same period last year, the business posted $0.41 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. On average, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity

In related news, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now directly owns 16,376 shares in the company, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company's stock, valued at $1,199,341.14. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,096 shares of company stock valued at $44,959,983. 5.00% of the stock is owned by company insiders.

Penumbra 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.