Clearbridge Investments LLC Has $157.67 Million Stock Position in Penumbra, Inc. (NYSE:PEN)

Clearbridge Investments LLC reduced its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 663,948 shares of the company's stock after selling 46,104 shares during the quarter. Clearbridge Investments LLC owned about 1.73% of Penumbra worth $157,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its stake in shares of Penumbra by 9.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,736 shares of the company's stock worth $1,362,000 after acquiring an additional 508 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Penumbra during the 4th quarter valued at approximately $1,994,000. Norges Bank purchased a new position in shares of Penumbra in the fourth quarter worth $54,396,000. Loomis Sayles & Co. L P lifted its stake in shares of Penumbra by 8.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 122,280 shares of the company's stock worth $29,039,000 after buying an additional 9,897 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Penumbra during the fourth quarter valued at $570,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares of the company's stock, 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 through this link. Also, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer now directly owns 15,243 shares of the company's stock, valued at approximately $4,359,498. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,311 shares of company stock valued at $26,616,640 in the last three months. Corporate insiders own 5.00% of the company's stock.

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Penumbra Trading Down 3.8 %

Shares of PEN stock traded down $10.43 on Friday, reaching $262.82. 131,976 shares of the stock were exchanged, compared to its average volume of 405,084. The stock has a market cap of $10.12 billion, a P/E ratio of 772.99, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $274.71 and a two-hundred day moving average of $244.69. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Oppenheimer assumed coverage on Penumbra in a research report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price target for the company. Truist Financial increased their price target on shares of Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. UBS Group lifted their price objective on shares of Penumbra from $305.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Piper Sandler reiterated 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. Finally, Royal Bank of Canada raised their target price on shares of Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $294.47.

Penumbra 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.