Penumbra, Inc. (NYSE:PEN) Position Trimmed by Champlain Investment Partners LLC

Champlain Investment Partners LLC reduced its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,495,957 shares of the company's stock after selling 52,015 shares during the period. Penumbra comprises 2.2% of Champlain Investment Partners LLC's investment portfolio, making the stock its 3rd largest position. Champlain Investment Partners LLC owned 3.90% of Penumbra worth $355,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Penumbra Stock Up 1.9 %

Shares of PEN stock traded up $5.22 during mid-day trading on Tuesday, hitting $275.86. The company's stock had a trading volume of 335,845 shares, compared to its average volume of 414,234. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 807.87, a PEG ratio of 2.83 and a beta of 0.56. The business has a 50-day moving average price of $275.53 and a 200 day moving average price of $252.59.

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

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 16,560 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $274.35, for a total value of $4,543,236.00. Following the transaction, the chief executive officer now owns 63,911 shares of the company's stock, valued at approximately $17,533,982.85. This represents a 20.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 360 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the sale, the director now owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,846 shares of company stock valued at $35,779,187 in the last ninety days. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PEN has been the topic of several research analyst reports. Truist Financial reduced their target price on Penumbra from $325.00 to $315.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. UBS Group lifted their target price 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. JPMorgan Chase & Co. increased 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. Wells Fargo & Company upped their target price on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird lifted their price target on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating 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 assigned a strong buy rating to the company. According to data from MarketBeat, Penumbra has an average rating of "Moderate Buy" and a consensus price target of $293.93.

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.