Primecap Management Co. CA Decreases Position in Penumbra, Inc. (NYSE:PEN)

Primecap Management Co. CA lowered its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 21.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 30,730 shares of the company's stock after selling 8,550 shares during the period. Primecap Management Co. CA owned about 0.08% of Penumbra worth $7,298,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PEN. True Wealth Design LLC purchased a new stake in Penumbra in the 3rd quarter worth $26,000. UMB Bank n.a. grew its position in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the period. Mather Group LLC. increased its stake in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after purchasing an additional 43 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PEN shares. Canaccord Genuity Group increased their target price on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. StockNews.com downgraded Penumbra from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. UBS Group lifted their target price on shares of Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased 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, Royal Bank of Canada boosted their price target on shares of Penumbra from $285.00 to $313.00 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $294.47.

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Insiders Place Their Bets

In other news, Director Harpreet Grewal sold 167 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the sale, 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 sold a total of 81,518 shares of company stock valued at $22,994,979 over the last 90 days. 5.00% of the stock is owned by company insiders.

Penumbra Trading Up 2.0 %

Penumbra stock traded up $5.71 during mid-day trading on Monday, hitting $286.09. The company's stock had a trading volume of 258,972 shares, compared to its average volume of 397,089. The stock's fifty day moving average is $272.70 and its two-hundred day moving average is $240.56. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.02 billion, a PE ratio of 841.45, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current 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.