Penumbra, Inc. (NYSE:PEN) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP lowered its holdings in Penumbra, Inc. (NYSE:PEN) by 9.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 240,000 shares of the company’s stock after selling 25,000 shares during the quarter. Penumbra comprises 2.2% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 13th biggest holding. Rock Springs Capital Management LP owned about 0.63% of Penumbra worth $56,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in Penumbra by 266.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,979 shares of the company’s stock valued at $707,000 after purchasing an additional 2,165 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Penumbra by 17.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 33,306 shares of the company’s stock valued at $7,910,000 after buying an additional 4,900 shares during the last quarter. Natixis acquired a new stake in Penumbra during the 4th quarter worth $444,000. MetLife Investment Management LLC lifted its position in Penumbra by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 23,233 shares of the company’s stock valued at $5,517,000 after acquiring an additional 1,513 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company’s stock valued at $76,937,000 after acquiring an additional 60,764 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Down 0.4 %

PEN opened at $276.62 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 company has a market cap of $10.70 billion, a price-to-earnings ratio of 813.60, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The business’s fifty day moving average is $275.47 and its two-hundred day moving average is $252.06.

Penumbra (NYSE:PEN) last released its quarterly earnings data 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 net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEN shares. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Truist Financial decreased their price objective on Penumbra from $325.00 to $315.00 and set a “buy” rating for the company in a report on Friday, April 11th. Wells Fargo & Company lifted their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, UBS Group increased their price target 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. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $293.93.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 16,560 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $274.35, for a total value of $4,543,236.00. Following the completion of the transaction, the chief executive officer now owns 63,911 shares of the company’s stock, valued at approximately $17,533,982.85. The trade was a 20.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the sale, the director now directly owns 314,819 shares in the company, valued at $89,336,187.63. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,846 shares of company stock valued at $35,779,187 over the last three months. 5.00% of the stock is currently owned by insiders.

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.