Price T Rowe Associates Inc. MD Sells 719,571 Shares of Penumbra, Inc. (NYSE:PEN)

Price T Rowe Associates Inc. MD lowered its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,265,687 shares of the company's stock after selling 719,571 shares during the period. Price T Rowe Associates Inc. MD owned 3.30% of Penumbra worth $300,576,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after buying an additional 138,387 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Penumbra by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after acquiring an additional 60,764 shares during the period. Franklin Resources Inc. grew its holdings in shares of Penumbra by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock worth $67,473,000 after acquiring an additional 24,091 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Penumbra by 39.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after purchasing an additional 85,284 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of Penumbra by 1.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 296,058 shares of the company's stock valued at $70,308,000 after purchasing an additional 5,470 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of NYSE:PEN opened at $300.50 on Friday. The business has a 50-day simple moving average of $276.99 and a two-hundred day simple moving average of $254.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 883.82, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating 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%. The firm had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. On average, analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $300.01, for a total transaction of $180,006.00. Following the completion of the sale, the executive vice president now directly owns 66,159 shares of the company's stock, valued at approximately $19,848,361.59. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the transaction, the director now owns 4,533 shares in the company, valued at $1,199,341.14. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,446 shares of company stock worth $35,959,193 in the last ninety days. Insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PEN shares. Robert W. Baird increased their price objective on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Canaccord Genuity Group raised their target price on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $302.40.

About Penumbra

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.

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