Baillie Gifford & Co. Sells 32,221 Shares of Penumbra, Inc. $PEN

Key Points

• Baillie Gifford trimmed its Penumbra stake by 3.5%, selling 32,221 shares and leaving it with 876,325 shares (2.24%) valued at about $272.5 million after the quarter.
• Penumbra reported a quarterly EPS miss of -$0.37 versus estimates of $1.12, although revenue beat at $385.39 million, up 22.2% year-over-year.
• Analysts collectively rate the stock a consensus "Hold" (14 holds, 4 buys) with an average price target of $361.69.

Baillie Gifford & Co. lowered its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 876,325 shares of the company's stock after selling 32,221 shares during the period. Baillie Gifford & Co. owned 2.24% of Penumbra worth $272,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PEN. Royal Bank of Canada boosted its holdings in shares of Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company's stock valued at $5,169,000 after purchasing an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock worth $70,000 after buying an additional 184 shares during the period. Cerity Partners LLC lifted its holdings in Penumbra by 22.3% during the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company's stock worth $2,574,000 after buying an additional 1,829 shares during the period. California Public Employees Retirement System raised its position in shares of Penumbra by 7.9% in the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company's stock worth $15,661,000 after acquiring an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Penumbra in the 2nd quarter worth about $1,137,000. Institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research analyst reports. Truist Financial lowered Penumbra from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $370.00 to $374.00 in a research report on Friday, January 16th. Leerink Partners downgraded Penumbra from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Piper Sandler lowered Penumbra from an "overweight" rating to a "hold" rating and set a $374.00 price objective for the company. in a report on Thursday, January 15th. Needham & Company LLC lowered shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, January 16th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $374.00 target price (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $361.69.

Penumbra Trading Up 0.0%

NYSE:PEN opened at $329.80 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a market cap of $12.94 billion, a P/E ratio of 72.97, a P/E/G ratio of 2.01 and a beta of 0.84. The stock's fifty day moving average price is $337.62 and its two-hundred day moving average price is $307.07.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($1.49). Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The business had revenue of $385.39 million during the quarter, compared to analysts' expectations of $367.18 million. During the same quarter last year, the business posted $0.97 EPS. The company's quarterly revenue was up 22.2% on a year-over-year basis. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In other news, CFO Maggie Yuen sold 2,432 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the transaction, the chief financial officer directly owned 18,353 shares of the company's stock, valued at approximately $6,282,231.90. This trade represents a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 100 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares of the company's stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra's technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra's portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

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