Penumbra, Inc. (NYSE:PEN) Shares Sold by FORA Capital LLC

FORA Capital LLC lowered its stake in shares of Penumbra, Inc. (NYSE:PEN) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,602 shares of the company’s stock after selling 134 shares during the quarter. FORA Capital LLC’s holdings in Penumbra were worth $1,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEN. Norges Bank acquired a new position in shares of Penumbra during the fourth quarter valued at about $99,266,000. Morgan Stanley boosted its position in Penumbra by 331.1% in the 4th quarter. Morgan Stanley now owns 320,876 shares of the company’s stock worth $71,382,000 after purchasing an additional 246,451 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Penumbra by 7,117.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 241,635 shares of the company’s stock worth $2,800,000 after purchasing an additional 238,287 shares in the last quarter. Braidwell LP purchased a new stake in Penumbra in the 4th quarter worth approximately $36,223,000. Finally, William Blair Investment Management LLC boosted its position in Penumbra by 13.4% in the 4th quarter. William Blair Investment Management LLC now owns 1,188,970 shares of the company’s stock worth $264,498,000 after purchasing an additional 140,457 shares in the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.

Penumbra Stock Down 0.5 %

NYSE PEN opened at $262.86 on Tuesday. The company has a market cap of $10.10 billion, a P/E ratio of 356.92 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.74. Penumbra, Inc. has a one year low of $144.76 and a one year high of $348.67. The business has a fifty day moving average price of $287.97 and a 200 day moving average price of $290.13.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.15. The business had revenue of $261.50 million during the quarter, compared to analysts’ expectations of $253.59 million. Penumbra had a return on equity of 3.16% and a net margin of 3.11%. The company’s revenue was up 25.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Research analysts anticipate that Penumbra, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEN. Truist Financial lowered their price objective on Penumbra from $370.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Citigroup increased their target price on Penumbra from $325.00 to $390.00 in a research report on Monday, July 10th. Piper Sandler increased their target price on Penumbra from $300.00 to $335.00 in a research report on Wednesday, May 24th. StockNews.com assumed coverage on Penumbra in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Robert W. Baird assumed coverage on Penumbra in a research report on Tuesday, July 18th. They set an “outperform” rating and a $375.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $329.33.

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 9,666 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $247.21, for a total transaction of $2,389,531.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Adam Elsesser sold 9,666 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $247.21, for a total transaction of $2,389,531.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 900 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $340.18, for a total value of $306,162.00. Following the transaction, the executive vice president now owns 65,437 shares of the company’s stock, valued at $22,260,358.66. The disclosure for this sale can be found here. Insiders sold 30,865 shares of company stock worth $9,199,451 in the last three months. 5.30% of the stock is owned by company insiders.

Penumbra Company Profile

Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.