Bank of New York Mellon Corp Purchases 4,814 Shares of Penumbra, Inc. (NYSE:PEN)

Bank of New York Mellon Corp raised its position in Penumbra, Inc. (NYSE:PEN) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 327,312 shares of the company’s stock after acquiring an additional 4,814 shares during the period. Bank of New York Mellon Corp owned about 0.84% of Penumbra worth $58,906,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Penumbra by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock valued at $29,893,000 after buying an additional 8,122 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Penumbra by 31.3% during the 4th quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock worth $182,000 after acquiring an additional 172 shares during the period. First Hawaiian Bank bought a new stake in shares of Penumbra in the 2nd quarter valued at approximately $1,597,000. Finally, Jennison Associates LLC raised its holdings in shares of Penumbra by 192.1% in the 1st quarter. Jennison Associates LLC now owns 87,139 shares of the company’s stock worth $19,448,000 after buying an additional 57,310 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total value of $105,588.00. Following the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at $10,855,854.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the transaction, the chief executive officer now directly owns 927,582 shares in the company, valued at approximately $187,853,906.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,590 shares of company stock valued at $3,718,846. 5.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird lowered their target price on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada dropped their target price on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley reduced their price target on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Piper Sandler dropped their price objective on shares of Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.50.

Penumbra Trading Down 0.0 %

Shares of NYSE PEN opened at $202.33 on Friday. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $302.00. The company has a 50-day moving average of $184.54 and a two-hundred day moving average of $205.08. The company has a market cap of $7.84 billion, a PE ratio of 85.37, a P/E/G ratio of 2.13 and a beta of 0.55. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter in the previous year, the company posted $0.43 EPS. Penumbra’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Penumbra, Inc. will post 2.64 earnings per share for the current fiscal year.

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.