Sei Investments Co. Boosts Stake in Penumbra, Inc. (NYSE:PEN)

Sei Investments Co. grew its stake in Penumbra, Inc. (NYSE:PEN) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,616 shares of the company’s stock after acquiring an additional 17,027 shares during the quarter. Sei Investments Co. owned about 0.28% of Penumbra worth $25,557,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PEN. Teacher Retirement System of Texas raised its holdings in Penumbra by 388.9% in the fourth quarter. Teacher Retirement System of Texas now owns 7,876 shares of the company’s stock worth $1,870,000 after purchasing an additional 6,265 shares in the last quarter. Xponance Inc. grew its position in shares of Penumbra by 2.8% in the 4th quarter. Xponance Inc. now owns 7,948 shares of the company’s stock worth $1,887,000 after buying an additional 216 shares during the last quarter. Twin Tree Management LP bought a new position in shares of Penumbra during the 4th quarter worth approximately $1,950,000. Corient Private Wealth LLC lifted its position in Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock valued at $403,000 after acquiring an additional 61 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Penumbra by 3.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company’s stock valued at $681,000 after acquiring an additional 101 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction 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 sale, the chief financial officer now directly owns 15,243 shares in the company, valued at $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 81,518 shares of company stock worth $22,994,979. 5.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group increased 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. StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Royal Bank of Canada upped their price objective on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average target price of $294.47.

Penumbra Stock Down 2.9 %

Shares of PEN opened at $275.14 on Thursday. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 809.24, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The stock’s 50-day moving average price is $274.34 and its 200-day moving average price is $241.94. 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 (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 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 return on equity of 9.74% and a net margin of 1.17%. On average, sell-side analysts predict 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.