Rock Springs Capital Management LP Sells 25,000 Shares of Penumbra, Inc. (NYSE:PEN)

Rock Springs Capital Management LP lessened its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,000 shares of the company's stock after selling 25,000 shares during the quarter. Penumbra accounts for approximately 2.2% of Rock Springs Capital Management LP's holdings, making the stock its 13th largest holding. Rock Springs Capital Management LP owned 0.63% of Penumbra worth $56,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company's stock worth $3,502,000 after acquiring an additional 2,559 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Penumbra in the 3rd quarter worth $367,000. Wilmington Savings Fund Society FSB bought a new position in Penumbra during the 3rd quarter worth about $6,995,000. Tidal Investments LLC raised its stake in shares of Penumbra by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company's stock valued at $973,000 after purchasing an additional 130 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Penumbra by 8.2% in the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock valued at $67,473,000 after purchasing an additional 24,091 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Performance

Shares of NYSE PEN traded up $0.96 during midday trading on Wednesday, hitting $278.18. 834,531 shares of the company's stock were exchanged, compared to its average volume of 417,714. 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 market capitalization of $10.76 billion, a PE ratio of 818.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company's 50 day moving average price is $275.79 and its 200 day moving average price is $252.92.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the sale, the chief financial officer now owns 15,243 shares of the company's stock, valued at approximately $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,846 shares of company stock valued at $35,779,187. 5.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America began coverage on Penumbra in a report on Friday, March 14th. They set a "buy" rating and a $320.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. UBS Group boosted 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. Wells Fargo & Company raised their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, StockNews.com cut shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Four 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $293.93.

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.