Braidwell LP Decreases Holdings in Penumbra, Inc. (NYSE:PEN)

Braidwell LP cut its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,828 shares of the company's stock after selling 177,600 shares during the quarter. Penumbra makes up about 1.3% of Braidwell LP's investment portfolio, making the stock its 29th biggest position. Braidwell LP owned about 0.48% of Penumbra worth $43,655,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PEN. Baillie Gifford & Co. increased its holdings in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after acquiring an additional 138,387 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after purchasing an additional 227,506 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Penumbra by 19.9% in the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after purchasing an additional 57,421 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 buying an additional 60,764 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Penumbra by 8.2% during the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock valued at $67,473,000 after buying an additional 24,091 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares in the company, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the transaction, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,096 shares of company stock worth $44,959,983 in the last ninety days. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PEN shares. Canaccord Genuity Group upped their price objective on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Bank of America began coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Royal Bank of Canada upped their target price 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, Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Trading Up 3.0 %

Shares of NYSE PEN traded up $8.52 during mid-day trading on Friday, reaching $297.25. The company had a trading volume of 972,988 shares, compared to its average volume of 426,508. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 874.26, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The business's 50-day moving average is $277.48 and its 200-day moving average is $259.92. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 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 the consensus estimate of $315.72 million. During the same period in the prior year, the firm earned $0.41 EPS. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. Equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.