William Blair Investment Management LLC lowered its stake in shares of Penumbra, Inc. (NYSE:PEN – Free Report) by 28.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 670,286 shares of the company’s stock after selling 270,446 shares during the quarter. William Blair Investment Management LLC owned 1.74% of Penumbra worth $230,619,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Penumbra during the 2nd quarter valued at approximately $25,000. Beacon Capital Management LLC grew its position in Penumbra by 281.0% in the 2nd quarter. Beacon Capital Management LLC now owns 80 shares of the company’s stock valued at $28,000 after acquiring an additional 59 shares during the last quarter. Optimum Investment Advisors bought a new position in Penumbra in the 2nd quarter valued at $34,000. Altshuler Shaham Ltd bought a new position in Penumbra in the 4th quarter valued at $27,000. Finally, Global Retirement Partners LLC grew its position in Penumbra by 1,537.5% in the 2nd quarter. Global Retirement Partners LLC now owns 131 shares of the company’s stock valued at $45,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 88.18% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on PEN shares. Citigroup cut their price objective on Penumbra from $390.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. TheStreet downgraded Penumbra from a “c” rating to a “d+” rating in a research report on Thursday, November 2nd. Morgan Stanley lowered their target price on Penumbra from $265.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. BTIG Research lowered their target price on Penumbra from $351.00 to $308.00 in a report on Wednesday, August 2nd. Finally, Wells Fargo & Company upped their target price on Penumbra from $320.00 to $337.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $317.25.
Insider Buying and Selling
In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $214.14, for a total transaction of $128,484.00. Following the transaction, the executive vice president now owns 63,037 shares in the company, valued at $13,498,743.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $214.14, for a total transaction of $128,484.00. Following the transaction, the executive vice president now owns 63,037 shares in the company, valued at $13,498,743.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 9,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $215.76, for a total value of $2,086,399.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,090 shares of company stock valued at $5,664,240 over the last ninety days. Company insiders own 5.30% of the company’s stock.
Penumbra Stock Performance
Penumbra stock traded up $9.38 during midday trading on Monday, hitting $235.69. 233,045 shares of the company were exchanged, compared to its average volume of 378,983. The firm has a market capitalization of $9.10 billion, a PE ratio of 219.72 and a beta of 0.58. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67. The business has a fifty day simple moving average of $223.50 and a two-hundred day simple moving average of $273.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.41 and a current ratio of 5.99.
Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.
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