229,054 Shares in Penumbra, Inc. (NYSE:PEN) Purchased by Norges Bank

Norges Bank acquired a new stake in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 229,054 shares of the company’s stock, valued at approximately $54,396,000. Norges Bank owned approximately 0.60% of Penumbra at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. UMB Bank n.a. grew its stake in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the period. Mather Group LLC. grew its position in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the period. Jones Financial Companies Lllp grew its position in Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after buying an additional 75 shares during the period. GAMMA Investing LLC increased its holdings in Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock valued at $106,000 after buying an additional 275 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Penumbra by 43.4% during the 4th quarter. Blue Trust Inc. now owns 730 shares of the company’s stock valued at $173,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling

In other news, CAO Lambert Shiu sold 501 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the transaction, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Wilder sold 360 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at $1,199,341.14. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is currently owned by company insiders.

Penumbra Price Performance

Shares of NYSE:PEN opened at $262.37 on Friday. The business has a fifty day simple moving average of $274.48 and a 200-day simple moving average of $245.21. 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 52 week low of $148.00 and a 52 week high of $310.00. The company has a market cap of $10.11 billion, a P/E ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.51.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEN. Truist Financial raised their price objective on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Robert W. Baird raised their price target on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Canaccord Genuity Group increased their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

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.