Amundi Lowers Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Amundi trimmed its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,939 shares of the company's stock after selling 16,347 shares during the quarter. Amundi owned approximately 0.42% of Penumbra worth $41,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company's stock worth $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock worth $300,786,000 after buying an additional 264,122 shares in the last quarter. State Street Corp lifted its holdings in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company's stock worth $240,298,000 after buying an additional 3,863 shares in the last quarter. RTW Investments LP increased its position in shares of Penumbra by 7.2% in the third quarter. RTW Investments LP now owns 795,750 shares of the company's stock worth $154,622,000 after purchasing an additional 53,645 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of Penumbra by 23.4% in the fourth 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. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

PEN opened at $266.51 on Thursday. 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 52-week low of $148.00 and a 52-week high of $310.00. The stock has a market capitalization of $10.26 billion, a PE ratio of 783.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The stock's 50 day moving average price is $268.84 and its 200-day moving average price is $236.72.

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

Insider Buying and Selling

In related news, CAO Lambert Shiu sold 501 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the sale, the chief accounting officer now directly owns 32,969 shares of the company's stock, valued at $9,326,270.72. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,918 shares of company stock valued at $22,054,293 over the last ninety days. Company insiders own 5.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Truist Financial increased their price objective on Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Canaccord Genuity Group raised their price objective on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and an average target price of $292.64.

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.

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