Penumbra, Inc. (NYSE:PEN) Position Lessened by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,650,622 shares of the company's stock after selling 25,683 shares during the quarter. Vanguard Group Inc. owned about 9.51% of Penumbra worth $866,950,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new stake in shares of Penumbra in the 3rd quarter worth about $26,000. UMB Bank n.a. grew its position in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares during the last quarter. Mather Group LLC. increased 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 purchasing an additional 208 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after buying an additional 75 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after buying an additional 43 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on PEN shares. Piper Sandler restated an "overweight" rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Oppenheimer assumed coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Bank of America started coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $294.47.

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Penumbra Trading Down 1.6 %

Shares of Penumbra stock traded down $4.45 on Thursday, reaching $272.91. 542,229 shares of the company were exchanged, compared to its average volume of 405,961. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 802.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The stock has a fifty day moving average price of $274.71 and a 200-day moving average price of $244.69.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $286.00, for a total transaction of $572,000.00. Following the transaction, the chief financial officer now owns 15,243 shares of the company's stock, valued at $4,359,498. The trade was a 11.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,478 shares of company stock valued at $26,656,933 in the last three months. 5.00% of the stock is currently owned by company insiders.

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.