Allspring Global Investments Holdings LLC Buys 85,284 Shares of Penumbra, Inc. (NYSE:PEN)

Allspring Global Investments Holdings LLC raised its stake in Penumbra, Inc. (NYSE:PEN) by 39.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 299,397 shares of the company’s stock after acquiring an additional 85,284 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Penumbra were worth $71,831,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Penumbra in the third quarter worth $26,000. GAMMA Investing LLC grew its holdings in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. UMB Bank n.a. increased its position in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares during the period. Mather Group LLC. raised its stake in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial upped their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Citigroup lifted their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.36.

Penumbra Price Performance

Shares of PEN opened at $267.42 on Thursday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.89. The firm’s 50-day simple moving average is $253.46 and its two-hundred day simple moving average is $222.57. The stock has a market cap of $10.26 billion, a PE ratio of 310.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82.

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares in the company, valued at approximately $202,300,656.96. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock valued at $8,129,483 in the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

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.