Beacon Pointe Advisors LLC Decreases Stake in Penumbra, Inc. (NYSE:PEN)

Beacon Pointe Advisors LLC lessened its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,555 shares of the company's stock after selling 5,902 shares during the period. Beacon Pointe Advisors LLC's holdings in Penumbra were worth $2,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baillie Gifford & Co. grew its holdings in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after buying an additional 227,506 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after acquiring an additional 60,764 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Penumbra by 8.2% during the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock worth $67,473,000 after acquiring an additional 24,091 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after acquiring an additional 85,284 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEN has been the topic of several recent research reports. Bank of America initiated coverage on Penumbra in a report on Friday, March 14th. They set a "buy" rating and a $320.00 price target on the stock. Piper Sandler restated an "overweight" rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Royal Bank of Canada increased their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $302.40.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Arani Bose sold 12,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $298.73, for a total value of $3,584,760.00. Following the transaction, the director now directly owns 302,819 shares of the company's stock, valued at approximately $90,461,119.87. The trade was a 3.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on 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 owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,446 shares of company stock worth $39,543,953. 5.00% of the stock is owned by company insiders.

Penumbra Stock Performance

NYSE:PEN traded up $4.15 during mid-day trading on Friday, reaching $295.97. 382,737 shares of the stock were exchanged, compared to its average volume of 427,632. The stock has a market capitalization of $11.46 billion, a P/E ratio of 870.50, a P/E/G ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a 50 day simple moving average of $277.12 and a 200-day simple moving average of $257.94. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same period last year, the firm posted $0.41 earnings per share. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal 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.