Polar Capital Holdings Plc Trims Holdings in Penumbra, Inc. (NYSE:PEN)

Polar Capital Holdings Plc decreased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,453 shares of the company’s stock after selling 27,383 shares during the quarter. Polar Capital Holdings Plc owned about 0.17% of Penumbra worth $15,069,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares in the last quarter. Hurley Capital LLC purchased a new stake in Penumbra in the fourth quarter valued at $56,000. Huntington National Bank raised its position in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after purchasing an additional 154 shares during the period. Mather Group LLC. raised its position in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. Finally, Jones Financial Companies Lllp raised its position in Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com upgraded Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Bank of America assumed coverage on Penumbra in a research report on Friday, March 14th. They issued a “buy” rating and a $320.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. UBS Group restated a “buy” rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the company a “buy” rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus price target of $302.40.

Insider Activity at Penumbra

In other news, CFO Maggie Yuen sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. The trade was a 11.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 900 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $298.55, for a total transaction of $268,695.00. Following the completion of the transaction, the executive vice president now owns 65,314 shares of the company’s stock, valued at approximately $19,499,494.70. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,996 shares of company stock valued at $45,228,678 over the last three months. 4.20% of the stock is owned by corporate insiders.

Penumbra Trading Down 4.5%

NYSE PEN opened at $275.95 on Friday. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The firm has a 50 day moving average of $279.00 and a two-hundred day moving average of $262.86. 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 capitalization of $10.69 billion, a PE ratio of 811.62, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 16.3% compared to the same quarter last year. As a group, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.