Meiji Yasuda Asset Management Co Ltd. Purchases New Holdings in Penumbra, Inc. (NYSE:PEN)

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 937 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. raised its stake 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Penumbra by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,767 shares of the company’s stock worth $52,030,000 after buying an additional 4,848 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Penumbra by 19.2% in 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Penumbra by 15.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,225 shares of the company’s stock worth $1,404,000 after acquiring an additional 953 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Penumbra by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,571 shares of the company’s stock worth $18,959,000 after acquiring an additional 995 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of Penumbra 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 transaction, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 16,600 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00. Following the transaction, the chief executive officer now directly owns 27,752 shares of the company’s stock, valued at $7,665,379.92. The trade was a 37.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,518 shares of company stock valued at $26,400,219 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Penumbra Price Performance

PEN stock opened at $267.16 on Friday. The business’s fifty day moving average price is $274.55 and its 200 day moving average price is $242.63. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market capitalization of $10.29 billion, a PE ratio of 785.75, a P/E/G ratio of 2.83 and a beta of 0.51. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on PEN shares. Piper Sandler reissued an “overweight” rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. UBS Group boosted their price objective on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Truist Financial upped their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. StockNews.com lowered Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Morgan Stanley raised their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra has an average 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.