Penumbra, Inc. (NYSE:PEN) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 650,973 shares of the company's stock after selling 4,599 shares during the period. Geode Capital Management LLC owned 1.70% of Penumbra worth $154,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new position in Penumbra during the fourth quarter valued at approximately $573,000. State Street Corp boosted its position in shares of Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company's stock valued at $240,298,000 after acquiring an additional 3,863 shares during the last quarter. E. Ohman J or Asset Management AB grew its holdings in shares of Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock valued at $5,061,000 after purchasing an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after purchasing an additional 3,807 shares during the last quarter. Finally, Washington Capital Management Inc. purchased a new stake in Penumbra during the fourth quarter valued at $226,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEN shares. Piper Sandler restated an "overweight" rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a report 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 objective for the company. Morgan Stanley boosted their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Truist Financial lowered their price target on Penumbra from $325.00 to $315.00 and set a "buy" rating for the company in a research report on Friday. Finally, StockNews.com cut shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $293.80.

Insider Buying and Selling

In other news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the sale, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lambert Shiu sold 501 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 directly owns 32,969 shares of the company's stock, valued at $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,236 shares of company stock worth $31,222,390 in the last ninety days. 5.00% of the stock is owned by insiders.

Penumbra Stock Up 1.4 %

Shares of NYSE:PEN traded up $3.87 during trading on Friday, reaching $272.44. The stock had a trading volume of 388,806 shares, compared to its average volume of 411,290. The firm's 50-day simple moving average is $274.33 and its 200 day simple moving average is $248.80. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a market capitalization of $10.54 billion, a P/E ratio of 801.28, a PEG ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts expect that Penumbra, Inc. will post 3.67 EPS 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.