Clearbridge Investments LLC Sells 66,694 Shares of Penumbra, Inc. $PEN

Clearbridge Investments LLC trimmed its holdings in Penumbra, Inc. (NYSE:PEN) by 8.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 690,814 shares of the company’s stock after selling 66,694 shares during the quarter. Clearbridge Investments LLC’s holdings in Penumbra were worth $214,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after buying an additional 38 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Penumbra by 2.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock valued at $537,000 after buying an additional 39 shares during the last quarter. Abbot Financial Management Inc. raised its holdings in shares of Penumbra by 1.3% in the third quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company’s stock valued at $824,000 after buying an additional 42 shares during the last quarter. Glenview Trust Co raised its holdings in shares of Penumbra by 5.0% in the third quarter. Glenview Trust Co now owns 904 shares of the company’s stock valued at $229,000 after buying an additional 43 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in shares of Penumbra by 1.2% in the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock valued at $1,152,000 after buying an additional 43 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup lowered their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $361.33.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the transaction, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Penumbra Price Performance

Shares of PEN stock opened at $320.51 on Monday. The stock has a 50-day moving average price of $326.86 and a 200 day moving average price of $326.35. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 73.85, a PEG ratio of 1.96 and a beta of 0.71. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.Penumbra’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Research analysts expect that Penumbra, Inc. will post 5.08 EPS for the current year.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.