Penumbra, Inc. (NYSE:PEN) Stock Position Decreased by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,930 shares of the company’s stock after selling 2,930 shares during the quarter. Primecap Management Co. CA owned approximately 0.10% of Penumbra worth $7,186,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PEN. Champlain Investment Partners LLC lifted its holdings in shares of Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock worth $242,060,000 after purchasing an additional 616,700 shares during the last quarter. Norges Bank acquired a new stake in Penumbra in the fourth quarter worth $85,222,000. Braidwell LP lifted its stake in Penumbra by 133.7% in the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after buying an additional 127,477 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Penumbra by 96.7% during the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after acquiring an additional 126,392 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Penumbra during the second quarter worth about $17,943,000. Institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PEN shares. Truist Financial reiterated a “buy” rating and issued a $200.00 price objective (down from $230.00) on shares of Penumbra in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday, July 31st. Citigroup raised their target price on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Leerink Partners assumed coverage on Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at $11,162,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,372 shares of company stock valued at $3,888,852. Company insiders own 5.00% of the company’s stock.

Penumbra Trading Up 4.6 %

NYSE:PEN opened at $195.58 on Thursday. The stock has a fifty day simple moving average of $190.01 and a 200 day simple moving average of $199.77. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 82.52, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.34. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. Sell-side analysts forecast that Penumbra, Inc. will post 2.63 earnings per share for the current year.

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.