Renaissance Technologies LLC Sells 81,900 Shares of Penumbra, Inc. (NYSE:PEN)

Renaissance Technologies LLC lessened its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 91.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,100 shares of the company's stock after selling 81,900 shares during the period. Renaissance Technologies LLC's holdings in Penumbra were worth $1,924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEN. Baillie Gifford & Co. boosted its holdings in Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after acquiring an additional 138,387 shares during the period. Franklin Resources Inc. boosted its stake in Penumbra by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock valued at $67,473,000 after purchasing an additional 24,091 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Penumbra by 39.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after buying an additional 85,284 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Penumbra by 1.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 296,058 shares of the company's stock worth $70,308,000 after buying an additional 5,470 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Penumbra by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 294,620 shares of the company's stock valued at $69,966,000 after acquiring an additional 1,823 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Up 1.1 %

PEN stock traded up $3.24 during mid-day trading on Thursday, reaching $296.08. The company had a trading volume of 170,224 shares, compared to its average volume of 425,621. 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 $11.47 billion, a price-to-earnings ratio of 870.71, a PEG ratio of 2.83 and a beta of 0.56. 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 50 day simple moving average of $276.75 and a two-hundred day simple moving average of $256.41.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. As a group, equities analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEN shares. Robert W. Baird boosted their price target on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. UBS Group restated a "buy" rating and set a $330.00 price objective (up from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Wells Fargo & Company raised 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. Piper Sandler reissued an "overweight" rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Penumbra currently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $300.01, for a total value of $180,006.00. Following the completion of the transaction, the executive vice president now directly owns 66,159 shares in the company, valued at approximately $19,848,361.59. This represents a 0.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the sale, the director now directly owns 4,533 shares in the company, valued at $1,199,341.14. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,446 shares of company stock valued at $39,543,953 in the last ninety days. 5.00% 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.