Congress Asset Management Co. Sells 62,681 Shares of Penumbra, Inc. (NYSE:PEN)

Congress Asset Management Co. lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 546,281 shares of the company's stock after selling 62,681 shares during the period. Penumbra accounts for about 1.1% of Congress Asset Management Co.'s investment portfolio, making the stock its 19th largest holding. Congress Asset Management Co. owned about 1.42% of Penumbra worth $146,081,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. RTW Investments LP raised its position in shares of Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after acquiring an additional 66,700 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after buying an additional 138,387 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after buying an additional 227,506 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Penumbra by 19.9% in the 4th quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after buying an additional 57,421 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after buying an additional 60,764 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of PEN stock traded up $0.45 on Friday, reaching $258.83. The stock had a trading volume of 376,022 shares, compared to its average volume of 448,567. The stock has a market cap of $10.02 billion, a P/E ratio of 761.26, a price-to-earnings-growth ratio of 2.83 and a beta of 0.49. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The company has a 50 day simple moving average of $276.89 and a 200 day simple moving average of $266.92.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. Equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $258.17, for a total transaction of $154,902.00. Following the completion of the sale, the executive vice president now owns 64,714 shares of the company's stock, valued at approximately $16,707,213.38. The trade was a 0.92% 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, CEO Adam Elsesser sold 16,600 shares of Penumbra stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the sale, the chief executive officer now directly owns 27,752 shares of the company's stock, valued at $7,665,379.92. This represents a 37.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,845 shares of company stock worth $36,359,981 over the last 90 days. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial upped their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Canaccord Genuity Group upped their price target on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. BTIG Research restated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Penumbra presently has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

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.