Loomis Sayles & Co. L P Raises Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Loomis Sayles & Co. L P grew its stake in shares of Penumbra, Inc. (NYSE:PEN) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,280 shares of the company’s stock after buying an additional 9,897 shares during the period. Loomis Sayles & Co. L P’s holdings in Penumbra were worth $29,039,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. bought a new stake in Penumbra during the 4th quarter worth approximately $573,000. State Street Corp raised its position in shares of Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after purchasing an additional 3,863 shares during the period. E. Ohman J or Asset Management AB lifted its stake in shares of Penumbra by 10.4% during the 4th quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Penumbra by 1.4% in the 4th 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. Finally, Geode Capital Management LLC increased its stake in Penumbra by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after buying an additional 11,257 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their price target on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Bank of America assumed coverage on shares of Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and an average target price of $294.47.

Insider Transactions at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the sale, the director now directly owns 314,819 shares in the company, valued at approximately $89,336,187.63. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares of the company’s stock, 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 quarter, insiders sold 93,518 shares of company stock worth $26,400,219. 5.00% of the stock is currently owned by insiders.

Penumbra Trading Down 2.3 %

Shares of PEN stock opened at $268.89 on Friday. The company has a market cap of $10.36 billion, a PE ratio of 790.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock’s 50 day simple moving average is $274.49 and its two-hundred day simple moving average is $242.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

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

Penumbra 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.