Penumbra, Inc. (NYSE:PEN) Position Cut by Baillie Gifford & Co.

Baillie Gifford & Co. cut its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 647,953 shares of the company's stock after selling 31,674 shares during the period. Baillie Gifford & Co. owned approximately 1.68% of Penumbra worth $162,986,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PEN. Captrust Financial Advisors boosted its holdings in shares of Penumbra by 44.1% in the second quarter. Captrust Financial Advisors now owns 219 shares of the company's stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Penumbra in the 4th quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new position in Penumbra during the 3rd quarter worth approximately $42,000. Coppell Advisory Solutions LLC purchased a new position in shares of Penumbra during the 2nd quarter worth approximately $47,000. Finally, Belpointe Asset Management LLC lifted its holdings in shares of Penumbra by 56.2% in the 1st quarter. Belpointe Asset Management LLC now owns 228 shares of the company's stock valued at $64,000 after buying an additional 82 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of PEN traded down $1.98 during mid-day trading on Wednesday, reaching $220.93. 192,515 shares of the company's stock were exchanged, compared to its average volume of 351,578. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 94.44, a PEG ratio of 2.17 and a beta of 0.51. The company has a 50-day simple moving average of $242.27 and a two-hundred day simple moving average of $234.14.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same quarter last year, the business posted $0.16 earnings per share. Penumbra's revenue was up 28.7% compared to the same quarter last year. On average, sell-side analysts predict that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on PEN shares. TheStreet upgraded Penumbra from a "d+" rating to a "c-" rating in a research report on Friday, January 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $289.00 price target on shares of Penumbra in a report on Friday, February 23rd. JPMorgan Chase & Co. cut shares of Penumbra from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Piper Sandler restated an "overweight" rating and set a $290.00 target price on shares of Penumbra in a research report on Wednesday, April 3rd. Finally, Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Penumbra presently has an average rating of "Moderate Buy" and an average price target of $304.45.

Insider Buying and Selling

In other Penumbra news, Director Arani Bose sold 7,500 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the transaction, the director now directly owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Penumbra news, Director Arani Bose sold 7,500 shares of Penumbra stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company's stock, valued at approximately $41,106,358.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $237.68, for a total value of $142,608.00. Following the completion of the transaction, the executive vice president now owns 62,997 shares of the company's stock, valued at $14,973,126.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is owned by corporate insiders.

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.