Massachusetts Financial Services Co. MA Cuts Position in Penumbra, Inc. (NYSE:PEN)

Massachusetts Financial Services Co. MA lowered its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 28.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,605 shares of the company’s stock after selling 46,898 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.31% of Penumbra worth $27,929,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after purchasing an additional 138,387 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Penumbra by 1.7% in the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock valued at $127,417,000 after purchasing an additional 11,257 shares during the period. Franklin Resources Inc. increased its stake in shares of Penumbra by 8.2% during the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock worth $67,473,000 after purchasing an additional 24,091 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Penumbra by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after purchasing an additional 85,284 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PEN shares. Bank of America began coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company boosted their price target on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and an average price target of $294.47.

Penumbra Price Performance

PEN stock opened at $262.37 on Monday. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 771.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. The business has a fifty day moving average of $274.48 and a two-hundred day moving average of $245.96.

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

Insider Activity

In other news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,243 shares of the company’s stock, valued at approximately $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Wilder sold 360 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares in the company, valued at $1,199,341.14. This 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 111,236 shares of company stock valued at $31,222,390. Company insiders own 5.00% of the company’s stock.

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.