Aigen Investment Management LP Buys New Shares in Penumbra, Inc. (NYSE:PEN)

Aigen Investment Management LP bought 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 (SEC). The fund bought 2,152 shares of the company’s stock, valued at approximately $511,000.

A number of other institutional investors have also recently bought and sold shares of the business. Pallas Capital Advisors LLC increased its position in Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after buying an additional 41 shares during the last quarter. Advisors Asset Management Inc. increased its position in 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 buying an additional 43 shares during the last quarter. Pacer Advisors Inc. increased its position in Penumbra by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares during the last quarter. CIBC Asset Management Inc increased its position in Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after buying an additional 61 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Down 0.9 %

Shares of PEN stock opened at $275.07 on Friday. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.59 billion, a P/E ratio of 809.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The stock has a 50 day simple moving average of $267.39 and a 200 day simple moving average of $235.14. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

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, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,918 shares of company stock worth $22,054,293. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEN shares. JPMorgan Chase & Co. boosted their price target on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Truist Financial boosted their price objective on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Company 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.