Penumbra, Inc. (NYSE:PEN) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 104,193 shares of the company's stock after acquiring an additional 1,486 shares during the period. The Manufacturers Life Insurance Company owned about 0.27% of Penumbra worth $24,744,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. UMB Bank n.a. increased its stake in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after buying an additional 70 shares during the period. Hurley Capital LLC purchased a new stake in shares of Penumbra during the fourth quarter worth $56,000. Huntington National Bank raised its stake in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. boosted its holdings in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after purchasing an additional 208 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research report on Thursday, April 24th. Bank of America initiated coverage on shares of Penumbra in a research report on Friday, March 14th. They set a "buy" rating and a $320.00 price objective for the company. Robert W. Baird raised their price target on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Stock Performance

Shares of NYSE PEN traded down $2.91 during midday trading on Monday, reaching $293.09. 304,162 shares of the company were exchanged, compared to its average volume of 427,138. The stock has a fifty day simple moving average of $277.12 and a 200 day simple moving average of $258.33. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock has a market cap of $11.35 billion, a P/E ratio of 862.03, a PEG ratio of 2.83 and a beta of 0.56. 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 posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The firm had revenue of $324.14 million for 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 quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. On average, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company's stock, valued at approximately $4,359,498. This trade represents a 11.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 360 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the transaction, the director now directly owns 4,533 shares in the company, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,446 shares of company stock worth $39,543,953 over the last ninety days. 5.00% of the stock is currently owned by company insiders.

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.