Penumbra, Inc. (NYSE:PEN) Shares Sold by Bellevue Group AG

Bellevue Group AG reduced its position in Penumbra, Inc. (NYSE:PEN) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,158 shares of the company’s stock after selling 21,888 shares during the period. Bellevue Group AG owned about 0.47% of Penumbra worth $40,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. Benjamin F. Edwards & Company Inc. increased its holdings in Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Penumbra during the first quarter worth $29,000. Signaturefd LLC grew its holdings in shares of Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after buying an additional 46 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Penumbra during the fourth quarter worth $71,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Penumbra in the fourth quarter valued at about $88,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on PEN shares. Morgan Stanley decreased their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. BTIG Research cut their target price on shares of Penumbra from $265.00 to $232.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Citigroup dropped their price target on shares of Penumbra from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Finally, Truist Financial dropped their price target on shares of Penumbra from $280.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $260.56.

Penumbra Stock Performance

Shares of NYSE PEN traded down $11.67 during mid-day trading on Friday, hitting $178.43. 552,683 shares of the company were exchanged, compared to its average volume of 336,751. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $186.61 and a 200-day simple moving average of $217.00. Penumbra, Inc. has a 1-year low of $170.59 and a 1-year high of $310.51. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 75.29, a price-to-earnings-growth ratio of 1.80 and a beta of 0.55.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The company had revenue of $278.70 million for the quarter, compared to analyst estimates of $274.94 million. During the same period in the prior year, the business earned $0.23 earnings per share. Penumbra’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts forecast that Penumbra, Inc. will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at $187,853,906.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at $187,853,906.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of the sale, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at approximately $13,168,046.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,970 shares of company stock valued at $6,428,404. 5.00% of the stock is owned by company 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.