William Blair Investment Management LLC Has $209.72 Million Stock Position in Penumbra, Inc. (NYSE:PEN)

William Blair Investment Management LLC trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 883,098 shares of the company's stock after selling 98,211 shares during the period. William Blair Investment Management LLC owned about 2.30% of Penumbra worth $209,718,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEN. True Wealth Design LLC acquired a new stake in Penumbra in the 3rd quarter valued at $26,000. UMB Bank n.a. lifted its position in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after acquiring an additional 70 shares in the last quarter. Mather Group LLC. grew its position in 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 acquiring an additional 208 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock valued at $81,000 after purchasing an additional 43 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of 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 purchasing an additional 75 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director Harpreet Grewal sold 167 shares of the business'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 sale, the director now directly owns 8,530 shares of the company's stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the transaction, the executive vice president now owns 66,539 shares of the company's stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,918 shares of company stock worth $18,409,893. Corporate insiders own 5.00% of the company's stock.

Penumbra Price Performance

Penumbra stock traded down $0.40 during trading hours on Friday, hitting $280.93. 737,365 shares of the company traded hands, compared to its average volume of 397,091. The firm's 50-day simple moving average is $272.09 and its two-hundred day simple moving average is $239.50. The firm has a market cap of $10.82 billion, a P/E ratio of 826.25, a P/E/G 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. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial increased their price target on Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Canaccord Genuity Group raised their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on shares of Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price target on Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $294.47.

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.