B. Metzler seel. Sohn & Co. AG Invests $2.06 Million in Penumbra, Inc. (NYSE:PEN)

B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 8,675 shares of the company’s stock, valued at approximately $2,060,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its holdings 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 valued at $240,298,000 after purchasing an additional 3,863 shares during the period. RTW Investments LP raised its stake in Penumbra by 7.2% during the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock worth $154,622,000 after buying an additional 53,645 shares during the period. Baillie Gifford & Co. boosted its holdings in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after acquiring an additional 138,387 shares in the last quarter. Janus Henderson Group PLC grew its stake in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after acquiring an additional 375,684 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Penumbra by 1.7% during the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock valued at $127,417,000 after acquiring an additional 11,257 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEN. Bank of America initiated coverage on shares of Penumbra in a research report on Friday, March 14th. They issued a “buy” rating and a $320.00 price target for the company. UBS Group lifted their price objective on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company upped their target price on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Insider Buying and Selling at Penumbra

In other 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 value of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares of the company’s stock, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,478 shares of company stock worth $26,656,933 over the last ninety days. 5.00% of the stock is currently owned by company insiders.

Penumbra Price Performance

PEN opened at $278.07 on Thursday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm has a 50-day moving average of $274.72 and a 200 day moving average of $244.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The firm has a market cap of $10.71 billion, a P/E ratio of 817.85, a PEG ratio of 2.83 and a beta of 0.51.

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

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.