Alliancebernstein L.P. Has $47.54 Million Stake in Penumbra, Inc. (NYSE:PEN)

Alliancebernstein L.P. lifted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,175 shares of the company’s stock after purchasing an additional 5,569 shares during the quarter. Alliancebernstein L.P. owned 0.52% of Penumbra worth $47,538,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Cerity Partners LLC increased its stake in Penumbra by 19.2% during the 3rd quarter. Cerity Partners LLC now owns 3,612 shares of the company’s stock worth $702,000 after purchasing an additional 583 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Penumbra by 15.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,225 shares of the company’s stock valued at $1,404,000 after buying an additional 953 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Penumbra during the third quarter worth $253,000. Finally, HighTower Advisors LLC lifted its position in Penumbra by 2.3% in the 3rd quarter. HighTower Advisors LLC now owns 5,792 shares of the company’s stock valued at $1,128,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity

In other news, CFO Maggie Yuen sold 2,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company’s stock, valued at approximately $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares in the company, valued at approximately $19,125,304.77. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PEN shares. Royal Bank of Canada lifted their price target on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. StockNews.com cut shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Penumbra Stock Performance

Shares of NYSE PEN opened at $262.37 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 company has a market capitalization of $10.11 billion, a P/E ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The stock has a 50 day moving average of $274.48 and a 200-day moving average of $245.21.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, equities research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

About Penumbra

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.