Penumbra, Inc. (NYSE:PEN) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 40.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,108 shares of the company's stock after selling 47,497 shares during the period. Massachusetts Financial Services Co. MA owned about 0.18% of Penumbra worth $18,748,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PEN. Concurrent Investment Advisors LLC purchased a new stake in Penumbra during the 1st quarter valued at $259,000. GAMMA Investing LLC boosted its position in Penumbra by 59.0% during the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company's stock valued at $190,000 after buying an additional 263 shares during the period. HighTower Advisors LLC boosted its position in Penumbra by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after buying an additional 188 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Penumbra by 3.7% during 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 lifted its position in shares of Penumbra by 606.3% in the 1st quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock worth $121,000 after purchasing an additional 382 shares during the period. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of Penumbra stock remained flat at $230.10 during trading hours on Friday. The stock had a trading volume of 423,932 shares, compared to its average volume of 455,802. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $258.27 and a 200-day simple moving average of $268.18. The firm has a market capitalization of $8.91 billion, a PE ratio of 217.08, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47.

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, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEN. Truist Financial lifted their price target on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Finally, Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the stock a "buy" rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $305.07.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total value of $151,620.00. Following the sale, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,985 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $243.75, for a total value of $3,896,343.75. Following the sale, the chief executive officer directly owned 134,432 shares in the company, valued at approximately $32,767,800. The trade was a 10.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,185 shares of company stock valued at $31,073,762. Insiders own 4.20% of the company's stock.

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.