Bridgewater Associates LP Lowers Stake in Penumbra, Inc. (NYSE:PEN)

Bridgewater Associates LP lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,990 shares of the company's stock after selling 1,799 shares during the quarter. Bridgewater Associates LP's holdings in Penumbra were worth $948,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. XTX Topco Ltd increased its stake in shares of Penumbra by 111.3% during the fourth quarter. XTX Topco Ltd now owns 5,664 shares of the company's stock valued at $1,345,000 after buying an additional 2,984 shares during the period. Mariner LLC increased its position in Penumbra by 5.2% during the 4th quarter. Mariner LLC now owns 9,356 shares of the company's stock valued at $2,222,000 after purchasing an additional 464 shares during the period. Barclays PLC raised its holdings in shares of Penumbra by 65.3% in the 4th quarter. Barclays PLC now owns 29,796 shares of the company's stock valued at $7,076,000 after purchasing an additional 11,771 shares in the last quarter. Seeds Investor LLC purchased a new stake in shares of Penumbra in the 4th quarter worth approximately $230,000. Finally, Optimize Financial Inc bought a new position in shares of Penumbra during the fourth quarter valued at approximately $256,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

PEN stock traded up $0.96 during midday trading on Wednesday, reaching $278.18. The stock had a trading volume of 739,129 shares, compared to its average volume of 417,578. The firm has a fifty day simple moving average of $275.59 and a two-hundred day simple moving average of $252.75. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The stock has a market cap of $10.76 billion, a PE ratio of 818.18, a P/E/G ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during 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%. As a group, equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $269.11, for a total value of $161,466.00. Following the sale, the executive vice president now directly owns 66,353 shares in the company, valued at $17,856,255.83. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,846 shares of company stock worth $35,779,187. Company insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler reissued an "overweight" rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their price target on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $293.93.

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.