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

CWM LLC decreased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 60.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,072 shares of the company's stock after selling 6,257 shares during the quarter. CWM LLC's holdings in Penumbra were worth $1,089,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PEN. Norges Bank bought a new stake in shares of Penumbra in the fourth quarter worth $54,396,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Penumbra by 47.4% in the fourth 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. GAMMA Investing LLC grew its holdings in shares of Penumbra by 42,409.9% in the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock worth $50,699,000 after acquiring an additional 189,148 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Penumbra in the fourth quarter worth $23,866,000. Finally, Baird Financial Group Inc. grew its holdings in shares of Penumbra by 43.9% in the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock worth $66,541,000 after acquiring an additional 85,542 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analysts Set New Price Targets

PEN has been the subject of several recent research reports. William Blair raised Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank Of Canada boosted their price target on Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Stifel Nicolaus set a $318.00 price target on Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Wall Street Zen raised Penumbra from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $305.07.

Insider Transactions at Penumbra

In other Penumbra news, Director Bridget O'rourke sold 100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the transaction, the director directly owned 5,423 shares of the company's stock, valued at approximately $1,551,791.45. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 16,150 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the completion of the transaction, the chief executive officer directly owned 146,258 shares of the company's stock, valued at approximately $34,101,515.28. This trade represents a 9.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,735 shares of company stock worth $31,074,530. Company insiders own 4.20% of the company's stock.

Penumbra Stock Up 1.3%

NYSE:PEN traded up $2.99 during trading hours on Friday, hitting $233.17. The company's stock had a trading volume of 304,826 shares, compared to its average volume of 399,281. The stock has a market capitalization of $9.03 billion, a P/E ratio of 219.97, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The stock has a fifty day moving average of $252.65 and a 200-day moving average of $267.63. 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, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data 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 net margin of 3.41% and a return on equity of 11.14%. The company had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Penumbra's revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

About Penumbra

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.