Penumbra, Inc. (NYSE:PEN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Penumbra, Inc. (NYSE:PEN) by 28.9% in the first quarter, HoldingsChannel.com reports. The firm owned 188,399 shares of the company’s stock after selling 76,756 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Penumbra were worth $42,047,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PEN. Dimensional Fund Advisors LP boosted its position in shares of Penumbra by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock worth $29,893,000 after acquiring an additional 8,122 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Penumbra by 31.3% in 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 during the last quarter. Jennison Associates LLC acquired a new stake in Penumbra during the fourth quarter worth approximately $7,503,000. Affinity Asset Advisors LLC purchased a new stake in shares of Penumbra during the 4th quarter worth approximately $1,887,000. Finally, Braidwell LP boosted its holdings in shares of Penumbra by 133.7% in the 4th quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after buying an additional 127,477 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

PEN has been the topic of several research analyst reports. Piper Sandler cut their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. 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 report on Friday, March 22nd. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group cut their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.10.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated 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 owns 63,488 shares in the company, valued at $13,168,046.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of the transaction, the executive vice president now owns 63,488 shares in the company, valued at $13,168,046.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total value of $30,598.30. Following the completion of the sale, the director now directly owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The disclosure for this sale can be found here. Insiders have sold a total of 16,970 shares of company stock worth $3,390,604 over the last ninety days. 5.00% of the stock is currently owned by company insiders.

Penumbra Trading Up 0.8 %

Shares of PEN stock opened at $177.44 on Thursday. The company has a market capitalization of $6.88 billion, a P/E ratio of 74.87, a price-to-earnings-growth ratio of 1.78 and a beta of 0.55. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $192.82 and its two-hundred day moving average is $224.55. Penumbra, Inc. has a twelve month low of $170.59 and a twelve month high of $341.23.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. Equities analysts forecast that Penumbra, Inc. will post 2.87 EPS for the current year.

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.