Bessemer Group Inc. Lowers Holdings in Penumbra, Inc. (NYSE:PEN)

Bessemer Group Inc. lowered its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 43.1% in the 1st quarter, according to its most recent disclosure with the SEC. 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 SEC filing.

A number of other hedge funds also recently modified their holdings of PEN. Hurley Capital LLC bought a new position in Penumbra during the 4th quarter worth $56,000. Huntington National Bank raised its position in shares of Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after acquiring an additional 154 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock worth $82,000 after acquiring an additional 277 shares during the period. Jones Financial Companies Lllp boosted its holdings in Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after acquiring an additional 75 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Penumbra by 110.4% in the first quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Finally, Bank of America assumed coverage on Penumbra in a research report on Friday, March 14th. They set a "buy" rating and a $320.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Stock Performance

Shares of Penumbra stock traded up $0.80 during trading hours on Thursday, reaching $250.54. The company had a trading volume of 233,847 shares, compared to its average volume of 451,781. The firm has a market cap of $9.70 billion, a PE ratio of 236.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.47. 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 current ratio of 6.30 and a quick ratio of 3.68. The business has a fifty day simple moving average of $271.10 and a 200 day simple moving average of $268.01.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.14% and a net margin of 3.41%. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. On average, analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $299.01, for a total value of $598,020.00. Following the completion of the transaction, the chief financial officer owned 13,957 shares of the company's stock, valued at $4,173,282.57. The trade was a 12.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction on Friday, April 25th. The stock was sold at an average price of $298.73, for a total transaction of $3,584,760.00. Following the sale, the director directly owned 302,819 shares of the company's stock, valued at $90,461,119.87. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,210 shares of company stock worth $31,582,595. Company insiders own 4.20% of the company's stock.

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.