Vanguard Group Inc. Decreases Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Vanguard Group Inc. lessened its holdings in Penumbra, Inc. (NYSE:PEN) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,650,622 shares of the company’s stock after selling 25,683 shares during the period. Vanguard Group Inc. owned about 9.51% of Penumbra worth $866,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. LPL Financial LLC raised its position in Penumbra by 4.0% in the fourth quarter. LPL Financial LLC now owns 9,486 shares of the company’s stock valued at $2,253,000 after purchasing an additional 368 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Penumbra during the 4th quarter valued at about $1,781,000. Sei Investments Co. lifted its position in Penumbra by 18.8% during the 4th quarter. Sei Investments Co. now owns 107,616 shares of the company’s stock worth $25,557,000 after acquiring an additional 17,027 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Penumbra by 388.9% in the 4th quarter. Teacher Retirement System of Texas now owns 7,876 shares of the company’s stock worth $1,870,000 after acquiring an additional 6,265 shares during the period. Finally, Xponance Inc. grew its position in Penumbra by 2.8% in the fourth quarter. Xponance Inc. now owns 7,948 shares of the company’s stock valued at $1,887,000 after acquiring an additional 216 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Down 0.9 %

NYSE PEN opened at $267.16 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a 50-day simple moving average of $274.55 and a 200-day simple moving average of $242.90. The firm has a market capitalization of $10.29 billion, a PE ratio of 785.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEN. JPMorgan Chase & Co. upped their target price on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Bank of America initiated coverage on Penumbra in a research note on Friday, March 14th. They issued a “buy” rating and a $320.00 price target on the stock. Wells Fargo & Company raised their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group upped their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the transaction, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the transaction, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,518 shares of company stock worth $26,400,219 in the last three months. 5.00% of the stock is owned by 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.