Penumbra, Inc. (NYSE:PEN) Stake Cut by Nomura Holdings Inc.

Nomura Holdings Inc. cut its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 43.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,052 shares of the company's stock after selling 7,643 shares during the quarter. Nomura Holdings Inc.'s holdings in Penumbra were worth $2,387,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PEN. UMB Bank n.a. lifted its stake in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC bought a new position in Penumbra during the fourth quarter worth $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares during the last quarter. Mather Group LLC. lifted its stake 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 purchasing an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Performance

Penumbra stock opened at $281.10 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The stock has a fifty day moving average price of $279.37 and a two-hundred day moving average price of $263.35. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The firm has a market capitalization of $10.89 billion, a P/E ratio of 826.76, a P/E/G ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. The business's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEN shares. Piper Sandler reaffirmed an "overweight" rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Wells Fargo & Company increased their target price on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Truist Financial increased their target price on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. StockNews.com raised Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Three 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 company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $302.40.

Insider Transactions at Penumbra

In other news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. This represents a 11.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,696 shares of company stock worth $50,207,745. Insiders own 4.20% of the company's stock.

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.

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