Penumbra, Inc. (NYSE:PEN) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 192.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,139 shares of the company’s stock after purchasing an additional 57,310 shares during the quarter. Jennison Associates LLC owned 0.22% of Penumbra worth $19,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PEN. Quent Capital LLC increased its position in shares of Penumbra by 17,660.0% in the first quarter. Quent Capital LLC now owns 1,776 shares of the company’s stock worth $396,000 after acquiring an additional 1,766 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Penumbra in the 1st quarter valued at $689,000. Retirement Systems of Alabama raised its position in Penumbra by 0.3% in the first quarter. Retirement Systems of Alabama now owns 48,467 shares of the company’s stock valued at $10,817,000 after purchasing an additional 127 shares during the period. Norden Group LLC purchased a new position in Penumbra in the first quarter valued at about $321,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Penumbra by 1.9% during the first quarter. Principal Financial Group Inc. now owns 145,741 shares of the company’s stock worth $32,526,000 after purchasing an additional 2,760 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 1.6 %

Shares of PEN traded down $2.79 during midday trading on Tuesday, hitting $176.48. The company had a trading volume of 119,356 shares, compared to its average volume of 341,400. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 75.64, a PEG ratio of 1.83 and a beta of 0.55. The company’s 50 day moving average price is $191.34 and its 200 day moving average price is $222.84. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52 week low of $170.59 and a 52 week high of $332.52.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. On average, equities research analysts predict that Penumbra, Inc. will post 2.87 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the transaction, the executive vice president now directly owns 63,488 shares in the company, valued at approximately $13,168,046.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the transaction, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at $13,168,046.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. Insiders sold a total of 16,970 shares of company stock valued at $3,390,604 over the last 90 days. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PEN has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Canaccord Genuity Group dropped their price objective on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Truist Financial reduced their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Piper Sandler lowered their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average price target of $293.10.

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.