Congress Asset Management Co. MA Sells 196 Shares of Penumbra, Inc. (NYSE:PEN)

Congress Asset Management Co. MA lessened its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,595 shares of the company’s stock after selling 196 shares during the quarter. Congress Asset Management Co. MA’s holdings in Penumbra were worth $1,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. QRG Capital Management Inc. bought a new stake in Penumbra in the 3rd quarter worth approximately $424,000. Envestnet Portfolio Solutions Inc. bought a new stake in Penumbra in the 3rd quarter worth approximately $218,000. Envestnet Asset Management Inc. increased its stake in Penumbra by 35.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 14,221 shares of the company’s stock worth $3,440,000 after acquiring an additional 3,717 shares during the last quarter. Invesco Ltd. increased its stake in Penumbra by 6.4% in the 3rd quarter. Invesco Ltd. now owns 551,923 shares of the company’s stock worth $133,516,000 after acquiring an additional 33,107 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in Penumbra in the 3rd quarter worth approximately $209,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

PEN opened at $187.20 on Tuesday. The business has a fifty day moving average of $201.21 and a 200 day moving average of $229.13. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. The stock has a market cap of $7.26 billion, a P/E ratio of 78.99, a PEG ratio of 1.90 and a beta of 0.59.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same quarter in the previous year, the firm earned $0.23 EPS. Penumbra’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 2.87 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Piper Sandler cut their target price on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Canaccord Genuity Group cut their target price on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $300.64.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now directly owns 64,281 shares in the company, valued at approximately $13,953,476.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Penumbra news, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the sale, the director now directly owns 1,175 shares in the company, valued at approximately $262,236.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,970 shares of company stock worth $3,420,669. 5.00% of the stock is currently owned by company insiders.

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.