Price T Rowe Associates Inc. MD Sells 78,767 Shares of Penumbra, Inc. (NYSE:PEN)

Price T Rowe Associates Inc. MD reduced its stake in Penumbra, Inc. (NYSE:PEN) by 2.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,025,823 shares of the company’s stock after selling 78,767 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.08% of Penumbra worth $675,304,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Penumbra by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock valued at $29,893,000 after purchasing an additional 8,122 shares in the last quarter. Vanguard Group Inc. raised its position in Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares in the last quarter. Quadrant Capital Group LLC raised its position in Penumbra by 31.3% during the fourth quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock valued at $182,000 after purchasing an additional 172 shares in the last quarter. Jennison Associates LLC acquired a new position in Penumbra during the fourth quarter valued at approximately $7,503,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Penumbra by 19.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after buying an additional 42,876 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEN has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price target on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Piper Sandler lowered their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. Truist Financial decreased their price objective on Penumbra from $280.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Finally, Morgan Stanley decreased their price objective on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $260.56.

Penumbra Trading Down 1.6 %

PEN traded down $2.86 during trading on Monday, reaching $175.57. 157,698 shares of the stock traded hands, compared to its average volume of 345,769. 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 market capitalization of $6.81 billion, a PE ratio of 75.29, a P/E/G ratio of 1.80 and a beta of 0.55. The stock’s 50-day moving average is $186.61 and its 200 day moving average is $217.00. Penumbra, Inc. has a 12 month low of $170.59 and a 12 month high of $310.51.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the transaction, the executive vice president now owns 63,488 shares of the company’s stock, valued at approximately $13,168,046.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the transaction, the chief executive officer now directly owns 942,582 shares in the company, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,970 shares of company stock valued at $6,428,404. 5.00% of the stock is currently owned by insiders.

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.