Penumbra, Inc. (NYSE:PEN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 66.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,231 shares of the company's stock after selling 2,478 shares during the period. Hsbc Holdings PLC's holdings in Penumbra were worth $292,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after buying an additional 70 shares during the period. Hurley Capital LLC acquired a new position in Penumbra during the 4th quarter worth approximately $56,000. Huntington National Bank raised its stake in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares during the last quarter. Mather Group LLC. grew its holdings in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after buying an additional 75 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PEN shares. Canaccord Genuity Group boosted their target price on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 price objective (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Bank of America started coverage on Penumbra in a report on Friday, March 14th. They set a "buy" rating and a $320.00 target price on the stock. Robert W. Baird upped their target price on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Truist Financial upped their target price on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Price Performance

PEN traded down $1.86 during trading on Tuesday, reaching $295.69. The company's stock had a trading volume of 576,174 shares, compared to its average volume of 428,204. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. 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 fifty day simple moving average of $277.97 and a two-hundred day simple moving average of $261.97. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 869.68, a PEG ratio of 2.83 and a beta of 0.53.

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

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. This trade represents a 79.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the transaction, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. This trade represents a 11.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,096 shares of company stock valued at $44,959,983 over the last three months. 4.20% of the stock is currently 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.