Fmr LLC Sells 77,522 Shares of Penumbra, Inc. (NYSE:PEN)

FMR LLC lowered its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,818,874 shares of the company's stock after selling 77,522 shares during the quarter. FMR LLC owned approximately 15.16% of Penumbra worth $1,381,866,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PEN. Quadrant Capital Group LLC increased its holdings in shares of Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock valued at $150,000 after purchasing an additional 39 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock valued at $263,000 after buying an additional 41 shares during the period. Pacer Advisors Inc. raised its position in shares of Penumbra by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock worth $1,359,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock valued at $281,000 after acquiring an additional 61 shares during the period. Finally, Corient Private Wealth LLC increased its position in Penumbra by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock worth $403,000 after purchasing an additional 61 shares during the period. Institutional investors own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was 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 owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the sale, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEN. Bank of America initiated coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Oppenheimer assumed coverage on Penumbra in a report on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 price objective for the company. UBS Group boosted their target price on Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Penumbra 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $293.80.

Penumbra Price Performance

Shares of PEN traded up $3.87 during trading hours on Friday, hitting $272.44. 388,806 shares of the company were exchanged, compared to its average volume of 411,290. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 801.28, a P/E/G ratio of 2.83 and a beta of 0.56. The firm's fifty day moving average is $274.33 and its 200 day moving average is $248.80.

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

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.