Bessemer Group Inc. Reduces Stake in Penumbra, Inc. (NYSE:PEN)

Bessemer Group Inc. lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,737 shares of the company's stock after selling 3,583 shares during the period. Bessemer Group Inc.'s holdings in Penumbra were worth $1,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock valued at $64,493,000 after buying an additional 3,807 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Penumbra in the fourth quarter valued at approximately $3,553,000. HighTower Advisors LLC boosted its position in Penumbra by 3.2% in the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after buying an additional 188 shares during the last quarter. Atria Investments Inc purchased a new stake in Penumbra in the fourth quarter valued at approximately $221,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Penumbra by 3.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock valued at $681,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Up 1.0%

NYSE PEN opened at $256.11 on Monday. The business has a fifty day moving average price of $272.45 and a 200 day moving average price of $268.18. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.30. The company has a market cap of $9.92 billion, a P/E ratio of 241.62, a P/E/G ratio of 2.28 and a beta of 0.50.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The firm had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same period in the prior year, the company earned $0.41 EPS. The firm's revenue was up 16.3% compared to the same quarter last year. Research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PEN shares. Bank of America started coverage on Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Royal Bank Of Canada boosted their price target on Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial boosted their price target on Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, BTIG Research reissued a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $302.40.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $269.11, for a total value of $161,466.00. Following the completion of the sale, the executive vice president now directly owns 66,353 shares in the company, valued at $17,856,255.83. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,890 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $253.40, for a total value of $4,026,526.00. Following the completion of the sale, the chief executive officer now owns 122,441 shares of the company's stock, valued at approximately $31,026,549.40. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,735 shares of company stock valued at $36,349,811. 5.00% of the stock is owned by insiders.

Penumbra Company 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.

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