Oak Harbor Wealth Partners LLC Cuts Stock Position in Penumbra, Inc. $PEN

Oak Harbor Wealth Partners LLC trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,307 shares of the company’s stock after selling 2,500 shares during the quarter. Penumbra makes up approximately 2.3% of Oak Harbor Wealth Partners LLC’s holdings, making the stock its 9th largest position. Oak Harbor Wealth Partners LLC owned 0.08% of Penumbra worth $9,423,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Penumbra by 27.1% during the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after purchasing an additional 38 shares during the last quarter. Abbot Financial Management Inc. lifted its holdings in shares of Penumbra by 1.3% during the third quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company’s stock valued at $824,000 after purchasing an additional 42 shares during the last quarter. Glenview Trust Co lifted its holdings in shares of Penumbra by 5.0% during the third quarter. Glenview Trust Co now owns 904 shares of the company’s stock valued at $229,000 after purchasing an additional 43 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Penumbra by 1.2% during the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock valued at $1,152,000 after purchasing an additional 43 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Penumbra by 0.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 8,693 shares of the company’s stock valued at $2,202,000 after purchasing an additional 47 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Price Performance

Shares of PEN opened at $325.61 on Friday. The firm has a market cap of $12.78 billion, a PE ratio of 72.04, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $334.12 and a two-hundred day simple moving average of $314.09. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The business had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. During the same period in the previous year, the firm earned $0.97 EPS. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that Penumbra, Inc. will post 5.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Leerink Partners lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Needham & Company LLC lowered shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Wells Fargo & Company reiterated an “equal weight” rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, January 15th. Robert W. Baird reiterated a “neutral” rating and set a $374.00 target price (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. Finally, Truist Financial lowered shares of Penumbra from a “buy” rating to a “hold” rating and lifted their target price for the company from $370.00 to $374.00 in a report on Friday, January 16th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Penumbra currently has an average rating of “Hold” and an average target price of $364.60.

Insider Buying and Selling at Penumbra

In related news, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the sale, the chief financial officer directly owned 18,353 shares in the company, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.20% of the company’s stock.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.