Primecap Management Co. CA Lowers Holdings in Penumbra, Inc. (NYSE:PEN)

Primecap Management Co. CA cut its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 21.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,730 shares of the company’s stock after selling 8,550 shares during the quarter. Primecap Management Co. CA owned 0.08% of Penumbra worth $7,298,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in Penumbra during the 4th quarter worth about $573,000. State Street Corp grew its holdings in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after acquiring an additional 3,863 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in Penumbra by 10.4% during the 4th quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after acquiring an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after purchasing an additional 3,807 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Penumbra by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after purchasing an additional 11,257 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of PEN opened at $280.26 on Thursday. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 824.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm has a 50-day simple moving average of $271.61 and a 200-day simple moving average of $239.21. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Citigroup raised their target price on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Morgan Stanley upped their price target on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Canaccord Genuity Group raised their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now directly owns 66,539 shares in the company, valued at $19,125,304.77. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,918 shares of company stock worth $22,054,293 in the last three months. Insiders own 5.00% of the company’s stock.

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.