Man Group plc Has $4.84 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Man Group plc trimmed its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 85.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,396 shares of the company's stock after selling 124,589 shares during the period. Man Group plc owned about 0.05% of Penumbra worth $4,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Penumbra during the fourth quarter worth about $54,396,000. T. Rowe Price Investment Management Inc. lifted its position 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 acquiring an additional 227,506 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after purchasing an additional 138,387 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Penumbra during the 4th quarter worth approximately $23,866,000. Finally, Baird Financial Group Inc. increased its position in shares of Penumbra by 43.9% during the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock valued at $66,541,000 after purchasing an additional 85,542 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now directly owns 4,533 shares in the company, valued at $1,199,341.14. This represents a 7.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares of the company's stock, valued at $4,644,069.84. The trade was a 79.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,696 shares of company stock valued at $50,207,745. 4.20% of the stock is currently owned by insiders.

Penumbra Price Performance

PEN traded up $1.97 during trading on Monday, hitting $268.72. The company's stock had a trading volume of 235,921 shares, compared to its average volume of 443,992. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 790.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The firm's 50 day moving average price is $279.68 and its two-hundred day moving average price is $265.40. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results 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 net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million for the quarter, compared to analysts' expectations of $315.72 million. During the same period in the prior year, the firm earned $0.41 earnings per share. Penumbra's revenue was up 16.3% compared to the same quarter last year. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the stock a "buy" rating in a research report on Thursday, April 24th. Morgan Stanley raised their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Bank of America assumed coverage on shares of Penumbra in a research note on Friday, March 14th. They set a "buy" rating and a $320.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Penumbra currently has an average rating of "Moderate Buy" and an average price target of $302.40.

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.