Renaissance Technologies LLC Sells 81,900 Shares of Penumbra, Inc. (NYSE:PEN)

Renaissance Technologies LLC cut its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 91.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,100 shares of the company's stock after selling 81,900 shares during the quarter. Renaissance Technologies LLC's holdings in Penumbra were worth $1,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake 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 acquiring an additional 70 shares in the last quarter. Hurley Capital LLC bought a new position in shares of Penumbra during the fourth quarter worth approximately $56,000. Huntington National Bank raised its position in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after buying an additional 208 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after buying an additional 75 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEN has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research report on Thursday. UBS Group reaffirmed a "buy" rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a report on Thursday. Finally, Bank of America initiated coverage on Penumbra in a research report on Friday, March 14th. They set a "buy" rating and a $320.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Penumbra presently has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Trading Up 0.8 %

PEN opened at $300.50 on Friday. The company's 50 day moving average price is $276.99 and its two-hundred day moving average price is $254.78. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 883.82, a PEG 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. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other Penumbra news, Director Thomas Wilder sold 360 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now directly owns 4,533 shares in the company, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lambert Shiu sold 501 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 32,969 shares in the company, valued at $9,326,270.72. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,446 shares of company stock worth $35,959,193 over the last ninety days. 5.00% of the stock is owned by insiders.

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.

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