Price T Rowe Associates Inc. MD Trims Stock Position in Penumbra, Inc. $PEN

Key Points

• Price T Rowe Associates Inc. sold 57,256 shares of Penumbra, Inc., cutting its stake by 4.5%, and now holds approximately 3.12% of the company valued at $323 million.
• Institutional investors own 88.88% of Penumbra's stock, with significant activity including Meeder Asset Management increasing their position by 1,966.7% in the first quarter.
• Analysts have mixed ratings on Penumbra shares, with a consensus rating of "Moderate Buy" and an average price target of approximately $300.47.

Price T Rowe Associates Inc. MD lowered its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,208,431 shares of the company's stock after selling 57,256 shares during the quarter. Price T Rowe Associates Inc. MD owned 3.12% of Penumbra worth $323,147,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Synergy Investment Management LLC acquired a new stake in Penumbra in the 1st quarter valued at approximately $27,000. First Horizon Advisors Inc. increased its holdings in Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after purchasing an additional 85 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Penumbra in the 1st quarter valued at approximately $76,000. Versant Capital Management Inc increased its holdings in Penumbra by 893.5% in the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after purchasing an additional 277 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Penumbra by 1,966.7% in the 1st quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after purchasing an additional 354 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In other news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares of the company's stock, valued at approximately $3,235,750. The trade was a 13.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, August 11th. The stock was sold at an average price of $238.94, for a total transaction of $143,364.00. Following the sale, the executive vice president directly owned 65,457 shares of the company's stock, valued at approximately $15,640,295.58. This trade represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,087 shares of company stock worth $27,649,681. 5.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. UBS Group set a $335.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley boosted their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and an average price target of $300.47.

Penumbra Stock Up 0.7%

Shares of NYSE:PEN traded up $1.90 during trading on Wednesday, hitting $267.90. The company's stock had a trading volume of 630,569 shares, compared to its average volume of 496,485. The company has a market capitalization of $10.45 billion, a PE ratio of 71.25, a P/E/G ratio of 2.38 and a beta of 0.40. The business has a 50 day moving average price of $246.70 and a two-hundred day moving average price of $265.34. Penumbra, Inc. has a fifty-two week low of $184.80 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million during the quarter, compared to analysts' expectations of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal 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.