Pinebridge Investments L.P. Has $3.43 Million Stake in Penumbra, Inc. (NYSE:PEN)

Pinebridge Investments L.P. boosted its position in Penumbra, Inc. (NYSE:PEN) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,425 shares of the company’s stock after purchasing an additional 4,314 shares during the period. Pinebridge Investments L.P.’s holdings in Penumbra were worth $3,426,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEN. Baillie Gifford & Co. increased its stake in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after buying an additional 138,387 shares during the period. Dimensional Fund Advisors LP increased its position in Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company’s stock valued at $76,937,000 after acquiring an additional 60,764 shares during the period. Franklin Resources Inc. raised its stake in shares of Penumbra by 8.2% during the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock valued at $67,473,000 after acquiring an additional 24,091 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Penumbra by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after purchasing an additional 85,284 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in shares of Penumbra by 1.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 296,058 shares of the company’s stock worth $70,308,000 after purchasing an additional 5,470 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group reaffirmed a “buy” rating and set a $330.00 target price (up from $320.00) on shares of Penumbra in a report on Thursday. Wells Fargo & Company raised their price target on shares of Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America started coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group upped their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.40.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares of the company’s stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares of the company’s stock, valued at approximately $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,446 shares of company stock valued at $35,959,193 over the last ninety days. 5.00% of the stock is currently owned by insiders.

Penumbra Price Performance

Shares of PEN opened at $300.50 on Friday. The stock has a market cap of $11.62 billion, a P/E ratio of 883.82, a P/E/G ratio of 2.83 and a beta of 0.56. The business’s fifty day moving average is $276.99 and its 200 day moving average is $254.39. 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.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $324.14 million during the quarter, compared to analysts’ expectations of $315.72 million. Sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal 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.