Loomis Sayles & Co. L P Acquires 9,897 Shares of Penumbra, Inc. (NYSE:PEN)

Loomis Sayles & Co. L P lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,280 shares of the company’s stock after acquiring an additional 9,897 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.32% of Penumbra worth $29,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its holdings in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Penumbra by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,767 shares of the company’s stock valued at $52,030,000 after buying an additional 4,848 shares during the period. Cerity Partners LLC raised its stake in Penumbra by 19.2% in the third quarter. Cerity Partners LLC now owns 3,612 shares of the company’s stock worth $702,000 after buying an additional 583 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in Penumbra in the third quarter worth about $242,000. Finally, FMR LLC boosted its position in Penumbra by 2.1% during the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after acquiring an additional 121,465 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEN. Truist Financial raised their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Robert W. Baird raised their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Canaccord Genuity Group increased their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Insiders Place Their Bets

In other Penumbra news, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the transaction, the director now directly owns 314,819 shares of the company’s stock, valued at approximately $89,336,187.63. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,518 shares of company stock valued at $26,400,219. Company insiders own 5.00% of the company’s stock.

Penumbra Trading Down 2.3 %

Penumbra stock opened at $268.89 on Friday. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The business’s fifty day moving average is $274.49 and its 200 day moving average is $242.13. The stock has a market capitalization of $10.36 billion, a PE ratio of 790.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

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.