Polar Capital Holdings Plc Decreases Holdings in Penumbra, Inc. (NYSE:PEN)

Polar Capital Holdings Plc decreased its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,453 shares of the company's stock after selling 27,383 shares during the quarter. Polar Capital Holdings Plc owned about 0.17% of Penumbra worth $15,069,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Baillie Gifford & Co. grew its holdings 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 last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Penumbra by 47.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after purchasing an additional 227,506 shares during the last quarter. Bank of America Corp DE grew its holdings 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 purchasing an additional 57,421 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Penumbra by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after purchasing an additional 60,764 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Penumbra by 20.8% during the 4th quarter. Northern Trust Corp now owns 318,230 shares of the company's stock valued at $75,573,000 after purchasing an additional 54,890 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Penumbra stock traded down $6.41 during mid-day trading on Wednesday, reaching $274.72. 71,649 shares of the company traded hands, compared to its average volume of 439,837. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 807.99, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The firm's fifty day moving average is $280.06 and its two-hundred day moving average is $264.41.

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

Analyst Upgrades and Downgrades

PEN has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. StockNews.com raised shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Piper Sandler reissued an "overweight" rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Finally, Truist Financial upped their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Penumbra has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Transactions at Penumbra

In related news, Director Arani Bose sold 12,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the sale, the director now owns 314,819 shares in the company, valued at approximately $89,336,187.63. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,696 shares of company stock worth $50,207,745 over the last 90 days. 4.20% of the stock is currently 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.