Penumbra, Inc. (NYSE:PEN) Shares Sold by Focus Partners Wealth

Focus Partners Wealth lowered its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,175 shares of the company's stock after selling 3,322 shares during the period. Focus Partners Wealth's holdings in Penumbra were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its position in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after buying an additional 227,506 shares during the period. Bank of America Corp DE boosted its position in Penumbra by 19.9% during the 4th quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock valued at $82,293,000 after acquiring an additional 57,421 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after acquiring an additional 60,764 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Penumbra by 20.8% during the 4th quarter. Northern Trust Corp now owns 318,230 shares of the company's stock worth $75,573,000 after purchasing an additional 54,890 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Performance

Shares of PEN stock traded down $1.23 on Thursday, hitting $269.16. The company had a trading volume of 76,462 shares, compared to its average volume of 441,102. The company has a 50-day moving average price of $280.00 and a 200-day moving average price of $264.45. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.42 billion, a P/E ratio of 790.44, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million for the quarter, compared to analysts' expectations of $315.72 million. During the same quarter last year, the company earned $0.41 EPS. The business's revenue was up 16.3% on a year-over-year basis. As a group, equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on PEN shares. Robert W. Baird increased their price target on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler restated an "overweight" rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. UBS Group reaffirmed a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Wells Fargo & Company boosted their target price on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada increased their price target on Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Buying and Selling

In other news, Director Bridget O'rourke sold 100 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the sale, the director now directly owns 5,423 shares in the company, valued at $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,696 shares of company stock valued at $50,207,745. 4.20% of the stock is owned by company 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.