New Age Alpha Advisors LLC Acquires 3,061 Shares of Penumbra, Inc. $PEN

New Age Alpha Advisors LLC lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 57.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,372 shares of the company’s stock after acquiring an additional 3,061 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Penumbra were worth $2,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEN. Royal Bank of Canada raised its holdings in shares of Penumbra by 35.8% during the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after acquiring an additional 184 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after acquiring an additional 1,829 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Penumbra by 7.9% during the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock valued at $15,661,000 after acquiring an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Penumbra in the second quarter worth $1,137,000. Institutional investors own 88.88% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the sale, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PEN. Evercore reaffirmed an “outperform” rating and issued a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Citigroup reduced their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. UBS Group reaffirmed a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Finally, Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Hold” and an average price target of $361.33.

Penumbra Price Performance

Shares of PEN stock opened at $328.43 on Wednesday. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 75.68, a PEG ratio of 2.01 and a beta of 0.74. The business’s fifty day moving average is $329.58 and its 200 day moving average is $323.83. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The firm had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. Research analysts expect that Penumbra, Inc. will post 5.08 EPS for the current fiscal year.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.