Penumbra, Inc. (NYSE:PEN) Stock Holdings Reduced by Bridgewater Associates LP

Bridgewater Associates LP cut its position in shares of Penumbra, Inc. (NYSE:PEN) by 31.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,990 shares of the company’s stock after selling 1,799 shares during the period. Bridgewater Associates LP’s holdings in Penumbra were worth $948,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC raised its position in Penumbra by 6.6% during the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock valued at $150,000 after acquiring an additional 39 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after acquiring an additional 61 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock worth $403,000 after purchasing an additional 61 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of PEN opened at $276.62 on Friday. The stock has a market cap of $10.70 billion, a P/E ratio of 813.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock’s 50-day moving average price is $275.47 and its two-hundred day moving average price is $251.25. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released 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 net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. On average, equities analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares of the company’s stock, valued at approximately $19,125,304.77. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now directly owns 4,533 shares of the company’s stock, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,846 shares of company stock worth $35,779,187. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research analyst reports. Truist Financial cut their target price on shares of Penumbra from $325.00 to $315.00 and set a “buy” rating for the company in a research note on Friday, April 11th. UBS Group boosted their target price on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Finally, Bank of America assumed coverage on shares of Penumbra in a research note on Friday, March 14th. They set a “buy” rating and a $320.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.93.

About Penumbra

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.