Handelsbanken Fonder AB Buys 2,400 Shares of Penumbra, Inc. (NYSE:PEN)

Handelsbanken Fonder AB raised its stake in Penumbra, Inc. (NYSE:PEN) by 36.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,058 shares of the company’s stock after acquiring an additional 2,400 shares during the period. Handelsbanken Fonder AB’s holdings in Penumbra were worth $2,278,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in Penumbra in the third quarter valued at $42,000. Signaturefd LLC grew its position in Penumbra by 27.2% in the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares during the period. Covestor Ltd grew its position in Penumbra by 357.9% in the third quarter. Covestor Ltd now owns 348 shares of the company’s stock valued at $84,000 after acquiring an additional 272 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Penumbra by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock worth $90,000 after purchasing an additional 298 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Penumbra by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after purchasing an additional 46 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Penumbra

In other news, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Don W. Kassing sold 778 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $234.72, for a total value of $182,612.16. Following the sale, the director now directly owns 1,345 shares in the company, valued at approximately $315,698.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on PEN shares. Truist Financial decreased their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Canaccord Genuity Group restated a “buy” rating and set a $284.00 target price on shares of Penumbra in a report on Friday, February 23rd. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $284.00 to $250.00 in a report on Friday, February 23rd. Piper Sandler restated an “overweight” rating and set a $290.00 target price on shares of Penumbra in a report on Wednesday, April 3rd. Finally, TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $304.45.

Penumbra Price Performance

Penumbra stock opened at $204.41 on Friday. The business’s 50-day simple moving average is $228.07 and its 200 day simple moving average is $231.75. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 88.49, a P/E/G ratio of 2.03 and a beta of 0.51. Penumbra, Inc. has a 12-month low of $180.93 and a 12-month high of $348.67. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The firm had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, research analysts anticipate that Penumbra, Inc. will post 2.85 earnings per share 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.