Penumbra, Inc. (NYSE:PEN) Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 38.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,276 shares of the company's stock after selling 3,993 shares during the period. Diversified Trust Co's holdings in Penumbra were worth $1,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management purchased a new stake in Penumbra in the first quarter valued at $324,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Penumbra in the first quarter valued at $2,614,000. Silver Oak Securities Incorporated purchased a new stake in Penumbra in the first quarter valued at $278,000. State of Alaska Department of Revenue raised its position in Penumbra by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 4,495 shares of the company's stock valued at $1,202,000 after purchasing an additional 115 shares during the period. Finally, QRG Capital Management Inc. raised its position in Penumbra by 14.1% in the first quarter. QRG Capital Management Inc. now owns 1,808 shares of the company's stock valued at $483,000 after purchasing an additional 224 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PEN. BTIG Research restated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Wells Fargo & Company lifted their target price on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group restated a "buy" rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Robert W. Baird increased their target price on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Truist Financial increased their target price on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Penumbra presently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Price Performance

Shares of NYSE PEN opened at $256.11 on Friday. The stock's 50-day moving average is $272.45 and its two-hundred day moving average is $267.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 241.62, a price-to-earnings-growth ratio of 2.26 and a beta of 0.49.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the prior year, the business earned $0.41 EPS. Penumbra's revenue was up 16.3% on a year-over-year basis. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $269.11, for a total value of $161,466.00. Following the completion of the sale, the executive vice president now directly owns 66,353 shares of the company's stock, valued at $17,856,255.83. This represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,890 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $253.40, for a total value of $4,026,526.00. Following the completion of the sale, the chief executive officer now directly owns 122,441 shares of the company's stock, valued at approximately $31,026,549.40. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,095 shares of company stock worth $36,445,060. 4.20% of the stock is currently owned by insiders.

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.

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