Guggenheim Capital LLC Lowers Stock Position in Penumbra, Inc. (NYSE:PEN)

Guggenheim Capital LLC reduced its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 37.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,426 shares of the company's stock after selling 1,481 shares during the quarter. Guggenheim Capital LLC's holdings in Penumbra were worth $576,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of Penumbra in the fourth quarter valued at approximately $573,000. E. Ohman J or Asset Management AB lifted its position in shares of Penumbra by 10.4% during the 4th quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock valued at $5,061,000 after acquiring an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Penumbra by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after purchasing an additional 3,807 shares in the last quarter. Washington Capital Management Inc. bought a new position in shares of Penumbra in the fourth quarter worth $226,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock worth $71,831,000 after acquiring an additional 85,284 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Arani Bose sold 12,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $298.73, for a total transaction of $3,584,760.00. Following the transaction, the director now owns 302,819 shares of the company's stock, valued at approximately $90,461,119.87. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the transaction, the chief accounting officer now owns 32,969 shares in the company, valued at $9,326,270.72. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,446 shares of company stock worth $39,543,953 in the last three months. 5.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

PEN has been the subject of several research reports. UBS Group reiterated a "buy" rating and issued a $330.00 target price (up from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Stifel Nicolaus set a $318.00 price target on shares of Penumbra and gave the stock a "buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $302.40.

Penumbra Stock Performance

NYSE:PEN traded up $1.74 on Thursday, hitting $294.58. The stock had a trading volume of 188,190 shares, compared to its average volume of 425,674. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 867.91, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. 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 business's 50-day simple moving average is $276.75 and its two-hundred day simple moving average is $256.41.

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