Penumbra, Inc. (NYSE:PEN) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,883 shares of the company's stock after selling 1,532 shares during the quarter. Calamos Advisors LLC's holdings in Penumbra were worth $3,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEN. First Horizon Advisors Inc. increased its position in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after purchasing an additional 85 shares during the last quarter. Hurley Capital LLC acquired a new position in Penumbra during the fourth quarter worth approximately $56,000. Huntington National Bank increased its position in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares during the last quarter. Versant Capital Management Inc increased its position in Penumbra by 893.5% during the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock worth $82,000 after purchasing an additional 277 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird increased their price objective on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. UBS Group reissued a "buy" rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research note 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 research note on Thursday, April 24th. Finally, BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Three 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 company's stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of "Moderate Buy" and an average target price of $302.40.

Penumbra Stock Up 0.3%

Shares of PEN stock traded up $0.80 on Friday, hitting $250.54. The stock had a trading volume of 233,847 shares, compared to its average volume of 454,147. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 236.36, a P/E/G ratio of 2.24 and a beta of 0.47. The stock's 50 day moving average is $269.14 and its 200-day moving average is $268.26. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.30. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million during 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 business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity

In related news, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 13,957 shares of the company's stock, valued at $4,173,282.57. This represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $298.73, for a total transaction of $3,584,760.00. Following the completion of the sale, the director directly owned 302,819 shares in the company, 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. Insiders have sold a total of 114,810 shares of company stock valued at $31,734,215 over the last ninety days. 4.20% of the stock is owned by company insiders.

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.