EFG Asset Management North America Corp. Takes Position in Penumbra, Inc. (NYSE:PEN)

EFG Asset Management North America Corp. purchased a new position in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,860 shares of the company’s stock, valued at approximately $3,531,000.

A number of other large investors also recently modified their holdings of PEN. Advisors Asset Management Inc. boosted its holdings in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Penumbra during the third quarter valued at $31,965,000. Charles Schwab Investment Management Inc. boosted its stake in Penumbra by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,767 shares of the company’s stock valued at $52,030,000 after buying an additional 4,848 shares during the period. Cerity Partners LLC grew its position in Penumbra by 19.2% during the third quarter. Cerity Partners LLC now owns 3,612 shares of the company’s stock worth $702,000 after buying an additional 583 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Penumbra by 13.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 112,383 shares of the company’s stock worth $21,837,000 after acquiring an additional 13,534 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Price Performance

Shares of Penumbra stock opened at $286.09 on Tuesday. The stock has a market capitalization of $11.02 billion, a P/E ratio of 841.45, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The business’s 50 day simple moving average is $273.48 and its two-hundred day simple moving average is $241.14.

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

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 16,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the completion of the transaction, the chief executive officer now owns 27,752 shares of the company’s stock, valued at $7,665,379.92. This represents a 37.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company’s stock, valued at approximately $4,359,498. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,518 shares of company stock worth $22,994,979. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PEN. Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Citigroup upped their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $294.47.

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.