Penumbra, Inc. $PEN Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its position in shares of Penumbra, Inc. (NYSE:PEN) by 7.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 221,886 shares of the company’s stock after selling 17,606 shares during the period. Baird Financial Group Inc.’s holdings in Penumbra were worth $56,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 66 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Penumbra in the 1st quarter valued at approximately $66,000. EverSource Wealth Advisors LLC boosted its stake in shares of Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after buying an additional 184 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Penumbra in the first quarter valued at approximately $76,000. Finally, Spire Wealth Management acquired a new position in Penumbra during the second quarter worth $91,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their target price on Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Penumbra in a report on Tuesday, November 25th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Evercore ISI restated an “outperform” rating and set a $286.00 target price on shares of Penumbra in a research report on Thursday, November 6th. Finally, BTIG Research reiterated a “buy” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $305.69.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $248.61, for a total transaction of $46,241.46. Following the transaction, the director owned 8,702 shares of the company’s stock, valued at $2,163,404.22. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 1,800 shares of Penumbra stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $300.06, for a total value of $540,108.00. Following the completion of the sale, the executive vice president directly owned 64,736 shares of the company’s stock, valued at approximately $19,424,684.16. This represents a 2.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 19,444 shares of company stock valued at $5,665,135. Insiders own 4.20% of the company’s stock.

Penumbra Trading Up 3.3%

Penumbra stock opened at $295.03 on Friday. The stock has a 50-day moving average price of $263.21 and a 200 day moving average price of $258.04. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $310.00. The stock has a market cap of $11.55 billion, a PE ratio of 70.58, a P/E/G ratio of 2.36 and a beta of 0.66. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

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.