Penumbra, Inc. (NYSE:PEN) Shares Acquired by NZS Capital LLC

NZS Capital LLC lifted its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,314 shares of the company's stock after purchasing an additional 2,260 shares during the quarter. NZS Capital LLC owned about 0.17% of Penumbra worth $15,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEN. Baillie Gifford & Co. increased its stake in shares of Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after purchasing an additional 227,506 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Penumbra by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after purchasing an additional 60,764 shares during the last quarter. Franklin Resources Inc. raised its holdings in Penumbra by 8.2% in the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock worth $67,473,000 after buying an additional 24,091 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Penumbra by 39.8% during 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 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 research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Piper Sandler restated an "overweight" rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. UBS Group reissued a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Finally, Bank of America started coverage on Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Trading Up 1.6 %

Shares of NYSE:PEN traded up $4.75 during trading on Friday, reaching $296.57. The company's stock had a trading volume of 207,130 shares, compared to its average volume of 426,284. The stock has a market capitalization of $11.48 billion, a PE ratio of 872.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The firm's 50 day simple moving average is $276.82 and its two-hundred day simple moving average is $256.96. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

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, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $315.72 million. During the same period last year, the company earned $0.41 earnings per share. Penumbra's revenue was up 16.3% on a year-over-year basis. On average, research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares of the company's stock, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. This represents a 79.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,446 shares of company stock worth $39,543,953. Company insiders own 5.00% 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.