Treasurer of the State of North Carolina Increases Holdings in Penumbra, Inc. (NYSE:PEN)

Treasurer of the State of North Carolina increased its stake in Penumbra, Inc. (NYSE:PEN) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,213 shares of the company’s stock after acquiring an additional 100 shares during the period. Treasurer of the State of North Carolina’s holdings in Penumbra were worth $3,850,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the 4th quarter worth approximately $573,000. E. Ohman J or Asset Management AB boosted its stake in Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after buying an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Penumbra by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock worth $64,493,000 after buying an additional 3,807 shares during the period. Geode Capital Management LLC increased its position in 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 during the last quarter. Finally, Washington Capital Management Inc. purchased a new stake in shares of Penumbra in the fourth quarter valued at $226,000. 88.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PEN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 target price on shares of Penumbra in a research note on Tuesday. Four investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $293.93.

Insider Activity

In other news, Director Thomas Wilder sold 360 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company’s stock, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 16,376 shares in the company, valued at $4,644,069.84. This represents a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,236 shares of company stock worth $31,222,390. Corporate insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $272.10 on Wednesday. The firm has a 50 day moving average of $274.64 and a 200 day moving average of $249.90. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 800.30, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

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