Loomis Sayles & Co. L P Has $21.84 Million Stake in Penumbra, Inc. (NYSE:PEN)

Loomis Sayles & Co. L P raised its stake in Penumbra, Inc. (NYSE:PEN) by 13.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 112,383 shares of the company’s stock after buying an additional 13,534 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Penumbra were worth $21,837,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in Penumbra during the 2nd quarter worth $54,000. Park Place Capital Corp grew its stake in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Penumbra by 11.5% in the third 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. Institutional investors own 88.88% of the company’s stock.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the transaction, the director now owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The trade was a 8.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the sale, the chief executive officer now directly owns 852,582 shares in the company, valued at approximately $202,300,656.96. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,748 shares of company stock worth $10,166,574 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Penumbra Trading Up 1.7 %

Shares of Penumbra stock opened at $248.96 on Wednesday. The stock has a market capitalization of $9.55 billion, a P/E ratio of 289.49, a P/E/G ratio of 2.48 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock’s 50-day simple moving average is $213.93 and its 200 day simple moving average is $197.63.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. As a group, research analysts anticipate that Penumbra, Inc. will post 2.79 EPS for the current year.

Penumbra announced that its board has authorized a share buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PEN has been the topic of several analyst reports. Stifel Nicolaus assumed coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. BTIG Research boosted their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial increased their price target on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Leerink Partners assumed coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $230.92.

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.