Penumbra, Inc. (NYSE:PEN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Penumbra, Inc. (NYSE:PEN) by 47.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,515 shares of the company’s stock after selling 65,094 shares during the quarter. Federated Hermes Inc.’s holdings in Penumbra were worth $18,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lecap Asset Management Ltd. acquired a new position in Penumbra in the 4th quarter valued at about $313,000. Louisiana State Employees Retirement System acquired a new position in shares of Penumbra in the fourth quarter valued at approximately $2,717,000. Financial Counselors Inc. increased its stake in Penumbra by 11.4% during the 4th quarter. Financial Counselors Inc. now owns 925 shares of the company’s stock worth $233,000 after buying an additional 95 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Penumbra by 19.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after buying an additional 42,876 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Penumbra by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock valued at $90,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

PEN stock opened at $202.72 on Monday. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 87.76, a PEG ratio of 2.00 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $234.52 and a 200 day moving average price of $232.53.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. Equities research analysts anticipate that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the transaction, the executive vice president now directly owns 62,997 shares in the company, valued at $14,973,126.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction on Friday, March 1st. The shares were sold at an average price of $234.72, for a total transaction of $182,612.16. Following the completion of the transaction, the director now directly owns 1,345 shares in the company, valued at $315,698.40. The disclosure for this sale can be found here. Insiders sold 9,648 shares of company stock worth $2,369,903 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

PEN has been the subject of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $289.00 price target on shares of Penumbra in a research note on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Penumbra in a research report on Wednesday, April 3rd. Truist Financial decreased their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.45.

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.