Massachusetts Financial Services Co. MA Lowers Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Massachusetts Financial Services Co. MA cut its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 28.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,605 shares of the company's stock after selling 46,898 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.31% of Penumbra worth $27,929,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. HighTower Advisors LLC raised its stake in shares of Penumbra by 2.3% during the 3rd quarter. HighTower Advisors LLC now owns 5,792 shares of the company's stock valued at $1,128,000 after buying an additional 128 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Penumbra during the third quarter valued at approximately $304,000. Quantinno Capital Management LP purchased a new position in Penumbra during the third quarter valued at approximately $294,000. State Street Corp lifted its holdings in Penumbra by 0.3% in the third 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 period. Finally, XTX Topco Ltd boosted its position in Penumbra by 70.7% in the 3rd quarter. XTX Topco Ltd now owns 2,680 shares of the company's stock worth $521,000 after purchasing an additional 1,110 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

PEN traded up $3.87 on Friday, reaching $272.44. 388,806 shares of the company's stock were exchanged, compared to its average volume of 411,290. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The stock has a market cap of $10.49 billion, a PE ratio of 801.28, a P/E/G ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The stock's fifty day moving average price is $274.33 and its 200-day moving average price is $248.80.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share 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 business had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the transaction, the chief financial officer now owns 15,243 shares of the company's stock, valued at approximately $4,359,498. This represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,236 shares of company stock worth $31,222,390 in the last three months. 5.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PEN has been the subject of several recent research reports. Oppenheimer assumed coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 target price for the company. UBS Group upped their price objective on shares of Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Canaccord Genuity Group lifted their price target on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird increased their price target on Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.80.

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.