Penumbra, Inc. (NYSE:PEN) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,265,687 shares of the company's stock after selling 719,571 shares during the quarter. Price T Rowe Associates Inc. MD owned 3.30% of Penumbra worth $300,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Penumbra during the fourth quarter valued at about $54,396,000. Baillie Gifford & Co. grew its position in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after purchasing an additional 138,387 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after purchasing an additional 85,284 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after buying an additional 60,764 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Penumbra during the fourth quarter worth $13,451,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Arani Bose sold 12,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $298.73, for a total value of $3,584,760.00. Following the completion of the sale, the director now owns 302,819 shares of the company's stock, valued at approximately $90,461,119.87. This trade represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,446 shares of company stock worth $39,543,953. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PEN shares. BTIG Research reissued a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. UBS Group reissued a "buy" rating and issued a $330.00 price objective (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Truist Financial increased their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Three 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 company. According to data from MarketBeat.com, Penumbra has an average rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Price Performance

PEN traded down $2.74 during midday trading on Thursday, hitting $290.10. 226,550 shares of the company traded hands, compared to its average volume of 425,843. The business has a 50 day simple moving average of $276.75 and a two-hundred day simple moving average of $256.41. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 852.53, a PEG ratio of 2.83 and a beta of 0.56. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

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