Price T Rowe Associates Inc. MD Sells 57,256 Shares of 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 reduced its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 3.12% of Penumbra worth $323,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $238.94, for a total transaction of $143,364.00. Following the completion of the sale, the executive vice president owned 65,457 shares in the company, valued at $15,640,295.58. This trade represents a 0.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,900 shares of Penumbra stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $254.53, for a total transaction of $4,047,027.00. Following the sale, the chief executive officer owned 170,280 shares of the company's stock, valued at $43,341,368.40. The trade was a 8.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,087 shares of company stock worth $27,649,681 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PEN shares. Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Robert W. Baird upped their price target on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price target on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada decreased their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Two investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $300.47.

Penumbra Trading Up 0.2%

Shares of Penumbra stock traded up $0.56 during trading on Friday, hitting $272.24. The stock had a trading volume of 69,663 shares, compared to its average volume of 493,770. The firm's fifty day simple moving average is $246.99 and its 200-day simple moving average is $265.41. The stock has a market cap of $10.62 billion, a PE ratio of 72.38, a PEG ratio of 2.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a 12 month low of $184.80 and a 12 month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results 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 firm had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business's revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.