Penumbra, Inc. (NYSE:PEN) Stake Lifted by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its stake in Penumbra, Inc. (NYSE:PEN) by 69.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,540 shares of the company’s stock after buying an additional 1,450 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Penumbra were worth $841,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in Penumbra by 2.3% in the 3rd quarter. HighTower Advisors LLC now owns 5,792 shares of the company’s stock valued at $1,128,000 after purchasing an additional 128 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Penumbra during the third quarter valued at approximately $304,000. Quantinno Capital Management LP bought a new stake in shares of Penumbra during the third quarter valued at approximately $294,000. State Street Corp boosted its position in shares of Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after buying an additional 3,863 shares during the period. Finally, XTX Topco Ltd grew its holdings in Penumbra by 70.7% in the 3rd quarter. XTX Topco Ltd now owns 2,680 shares of the company’s stock worth $521,000 after buying an additional 1,110 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,236 shares of company stock worth $31,222,390. 5.00% of the stock is owned by corporate insiders.

Penumbra Trading Down 4.0 %

Shares of PEN opened at $262.37 on Monday. The business’s 50-day moving average price is $274.48 and its 200 day moving average price is $245.96. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.11 billion, a P/E ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PEN shares. Oppenheimer initiated coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Bank of America assumed coverage on shares of Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective for the company. Robert W. Baird raised their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Truist Financial raised their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $294.47.

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.