Penumbra, Inc. (NYSE:PEN) Holdings Decreased by RWA Wealth Partners LLC

RWA Wealth Partners LLC cut its position in shares of Penumbra, Inc. (NYSE:PEN) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,948 shares of the company’s stock after selling 877 shares during the quarter. RWA Wealth Partners LLC’s holdings in Penumbra were worth $700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares during the period. RTW Investments LP boosted its stake in Penumbra by 7.2% in the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after acquiring an additional 53,645 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after purchasing an additional 138,387 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Penumbra by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after purchasing an additional 11,257 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of PEN opened at $271.19 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The firm’s 50 day moving average is $274.68 and its 200-day moving average is $244.25. The stock has a market capitalization of $10.45 billion, a P/E ratio of 797.62, a P/E/G ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PEN shares. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group upped their target price on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird increased their price objective on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.47.

Insider Activity at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares in the company, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,518 shares of company stock worth $26,400,219 in the last ninety days. 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.