C WorldWide Group Holding A S Cuts Stock Holdings in Penumbra, Inc. (NYSE:PEN)

C WorldWide Group Holding A S trimmed its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 25.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 72,000 shares of the company's stock after selling 25,000 shares during the period. C WorldWide Group Holding A S owned 0.19% of Penumbra worth $19,254,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Penumbra in the first quarter valued at approximately $259,000. GAMMA Investing LLC increased its stake in Penumbra by 59.0% during the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company's stock worth $190,000 after buying an additional 263 shares during the period. HighTower Advisors LLC grew its holdings in Penumbra by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock worth $1,420,000 after acquiring an additional 188 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Penumbra by 3.7% in the 4th 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 period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Penumbra by 606.3% in the 1st quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock valued at $121,000 after buying an additional 382 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 15,985 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $243.75, for a total transaction of $3,896,343.75. Following the completion of the transaction, the chief executive officer owned 134,432 shares of the company's stock, valued at approximately $32,767,800. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bridget O'rourke sold 100 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the transaction, the director directly owned 5,423 shares of the company's stock, valued at approximately $1,551,791.45. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,185 shares of company stock valued at $31,073,762. 4.20% of the stock is owned by company insiders.

Penumbra Stock Performance

Shares of NYSE:PEN traded up $0.55 on Friday, hitting $230.65. The company had a trading volume of 33,827 shares, compared to its average volume of 493,218. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 217.60, a P/E/G ratio of 2.09 and a beta of 0.47. The stock has a 50 day moving average price of $259.62 and a 200 day moving average price of $268.02. The company has a current ratio of 6.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released 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. The firm had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. Analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PEN. Truist Financial boosted their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada boosted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Citigroup cut their target price on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. BTIG Research restated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Finally, UBS Group reaffirmed a "buy" rating and issued a $330.00 target price (up previously from $320.00) 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. According to MarketBeat, Penumbra has an average rating of "Moderate Buy" and an average price target of $305.07.

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.

Want to see what other hedge funds are holding PEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penumbra, Inc. (NYSE:PEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.