Norden Group LLC Purchases 135 Shares of Penumbra, Inc. (NYSE:PEN)

Norden Group LLC increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,338 shares of the company’s stock after buying an additional 135 shares during the period. Norden Group LLC’s holdings in Penumbra were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Penumbra in the third quarter valued at approximately $26,000. UMB Bank n.a. lifted its holdings in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Mather Group LLC. boosted its position in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock valued at $106,000 after purchasing an additional 275 shares during the period. 88.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This represents a 1.92 % 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, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Penumbra Trading Up 1.4 %

Shares of Penumbra stock opened at $285.36 on Monday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 839.29, a PEG ratio of 2.83 and a beta of 0.53. The firm’s 50-day moving average price is $263.25 and its two-hundred day moving average price is $232.55.

Penumbra (NYSE:PEN) last posted 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. The business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on PEN shares. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, February 19th. Citigroup upped their target price on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. UBS Group upped their price objective on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.64.

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.