Fmr LLC Sells 77,522 Shares of Penumbra, Inc. (NYSE:PEN)

Fmr LLC trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,818,874 shares of the company’s stock after selling 77,522 shares during the period. Fmr LLC owned 15.16% of Penumbra worth $1,381,866,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. lifted 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 acquiring an additional 70 shares in the last quarter. Hurley Capital LLC purchased a new position in Penumbra in the 4th quarter worth approximately $56,000. Huntington National Bank boosted its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares during the period. Mather Group LLC. grew its holdings in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after buying an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp raised 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 valued at $89,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 4.0 %

PEN opened at $262.37 on Monday. 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 stock’s 50 day moving average price is $274.48 and its 200-day moving average price is $245.96. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN) last released its 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 for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In other Penumbra news, Director Thomas Wilder sold 360 shares of the firm’s 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 directly owns 4,533 shares in the company, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Elsesser sold 16,565 shares of Penumbra stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total value of $4,509,655.60. Following the sale, the chief executive officer now directly owns 52,495 shares of the company’s stock, valued at approximately $14,291,238.80. This trade represents a 23.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PEN has been the subject of several research analyst reports. UBS Group raised their target price on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Canaccord Genuity Group raised their price target on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Truist Financial increased their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $294.47.

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.