Penumbra, Inc. (NYSE:PEN) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its position in Penumbra, Inc. (NYSE:PEN) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 824,979 shares of the company’s stock after selling 8,724 shares during the quarter. William Blair Investment Management LLC owned about 2.13% of Penumbra worth $148,471,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Penumbra by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Penumbra by 131.8% in the first quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after buying an additional 616,700 shares during the last quarter. Norges Bank purchased a new stake in shares of Penumbra in the fourth quarter valued at about $85,222,000. Bank of New York Mellon Corp boosted its stake in shares of Penumbra by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after buying an additional 4,814 shares during the period. Finally, Braidwell LP grew its holdings in shares of Penumbra by 133.7% during the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock worth $56,041,000 after buying an additional 127,477 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Down 6.5 %

Shares of PEN opened at $186.94 on Friday. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $282.11. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.26 billion, a P/E ratio of 78.88, a PEG ratio of 2.27 and a beta of 0.54. The firm’s 50-day moving average is $189.34 and its two-hundred day moving average is $200.91.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts predict that Penumbra, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler reduced their price objective on Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Citigroup upped their price target on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. BTIG Research lifted their price objective on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Canaccord Genuity Group dropped their price objective on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.27.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.20, for a total value of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares in the company, valued at approximately $11,162,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the sale, the chief executive officer now owns 927,582 shares in the company, valued at approximately $187,853,906.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.20, for a total value of $107,520.00. Following the transaction, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The disclosure for this sale can be found here. Insiders sold a total of 19,372 shares of company stock worth $3,888,852 over the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

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.