Xponance Inc. Decreases Stake in Penumbra, Inc. (NYSE:PEN)

Xponance Inc. reduced its position in Penumbra, Inc. (NYSE:PEN) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,152 shares of the company’s stock after selling 330 shares during the period. Xponance Inc.’s holdings in Penumbra were worth $2,051,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Penumbra by 19.3% in 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. Aigen Investment Management LP purchased a new stake in shares of Penumbra in the third quarter worth about $209,000. QRG Capital Management Inc. bought a new stake in Penumbra during the third quarter worth approximately $424,000. Hussman Strategic Advisors Inc. bought a new stake in Penumbra during the third quarter worth approximately $508,000. Finally, New York Life Investment Management LLC increased its stake in Penumbra by 108.1% during the third quarter. New York Life Investment Management LLC now owns 4,074 shares of the company’s stock worth $986,000 after acquiring an additional 2,116 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Penumbra news, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares in the company, valued at $262,236.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Penumbra news, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares in the company, valued at $262,236.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares of the company’s stock, valued at approximately $14,973,126.96. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock worth $2,369,903 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Penumbra Stock Up 0.1 %

Shares of NYSE:PEN opened at $203.02 on Tuesday. Penumbra, Inc. has a 52-week low of $180.93 and a 52-week high of $348.67. The stock has a market cap of $7.86 billion, a P/E ratio of 87.89, a price-to-earnings-growth ratio of 2.00 and a beta of 0.51. The business’s 50 day moving average is $233.18 and its 200 day moving average is $232.39. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company had revenue of $284.68 million for the quarter, compared to analysts’ expectations of $286.62 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Penumbra’s revenue was up 28.7% compared to the same quarter last year. Sell-side analysts predict that Penumbra, Inc. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on PEN. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 target price on shares of Penumbra in a research note on Wednesday, April 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $284.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Finally, Truist Financial cut their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $304.45.

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.