106,271 Shares in Penumbra, Inc. $PEN Acquired by Norges Bank

Norges Bank bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,271 shares of the company’s stock, valued at approximately $33,041,000. Norges Bank owned 0.27% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC increased its stake in shares of Penumbra by 13.3% during the third quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock worth $12,405,000 after buying an additional 5,749 shares during the period. Algert Global LLC increased its stake in Penumbra by 38.8% in the third quarter. Algert Global LLC now owns 45,875 shares of the company’s stock valued at $11,621,000 after purchasing an additional 12,830 shares during the last quarter. Citigroup Inc. increased its stake in Penumbra by 75.9% in the third quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock valued at $8,501,000 after purchasing an additional 14,477 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Penumbra in the third quarter valued at approximately $1,900,000. Finally, Picton Mahoney Asset Management purchased a new position in Penumbra in the third quarter valued at approximately $1,028,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Price Performance

PEN stock opened at $320.28 on Tuesday. The company has a market capitalization of $12.60 billion, a P/E ratio of 73.80, a PEG ratio of 1.96 and a beta of 0.71. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The business has a 50 day simple moving average of $326.54 and a 200-day simple moving average of $326.64. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The firm had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, equities analysts anticipate that Penumbra, Inc. will post 5.08 EPS for the current year.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

PEN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup dropped their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. UBS Group reiterated a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Finally, Evercore reiterated an “outperform” rating and issued a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $361.33.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.