WCM Investment Management LLC Decreases Stock Holdings in Penumbra, Inc. (NYSE:PEN)

WCM Investment Management LLC lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,494 shares of the company's stock after selling 15,978 shares during the quarter. WCM Investment Management LLC owned approximately 0.10% of Penumbra worth $10,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PEN. Norges Bank purchased a new position in Penumbra in the 4th quarter worth approximately $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 purchasing an additional 227,506 shares during the last quarter. GAMMA Investing LLC increased its stake 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 buying an additional 189,148 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Penumbra during the 4th quarter valued at $23,866,000. Finally, Baird Financial Group Inc. raised its holdings in Penumbra by 43.9% during the 4th quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock valued at $66,541,000 after buying an additional 85,542 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Up 0.3%

NYSE PEN traded up $0.80 during trading hours on Thursday, reaching $250.54. 233,847 shares of the company's stock traded hands, compared to its average volume of 451,781. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. The firm has a 50-day simple moving average of $271.10 and a 200 day simple moving average of $268.01. The firm has a market cap of $9.70 billion, a PE ratio of 236.36, a PEG ratio of 2.23 and a beta of 0.47.

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

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 900 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $298.55, for a total value of $268,695.00. Following the sale, the executive vice president directly owned 65,314 shares of the company's stock, valued at approximately $19,499,494.70. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $299.01, for a total transaction of $598,020.00. Following the completion of the transaction, the chief financial officer owned 13,957 shares in the company, valued at approximately $4,173,282.57. The trade was a 12.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,210 shares of company stock worth $31,582,595 over the last three months. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target 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 Penumbra from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. BTIG Research reiterated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Truist Financial lifted their price objective on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, UBS Group restated a "buy" rating and set a $330.00 target price (up previously from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Penumbra currently has an average rating of "Moderate Buy" and a consensus price target of $302.40.

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.