Baillie Gifford & Co. Sells 13,581 Shares of Penumbra, Inc. $PEN

Baillie Gifford & Co. cut its stake in Penumbra, Inc. (NYSE:PEN) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 908,546 shares of the company’s stock after selling 13,581 shares during the period. Baillie Gifford & Co. owned approximately 2.33% of Penumbra worth $230,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Penumbra by 7.3% during the second quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock worth $195,000 after buying an additional 52 shares in the last quarter. Covestor Ltd boosted its position in Penumbra by 53.0% during the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after acquiring an additional 62 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Penumbra by 2.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company’s stock worth $737,000 after acquiring an additional 82 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Penumbra by 4.1% in the second quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock valued at $599,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of analyst reports. Canaccord Genuity Group downgraded shares of Penumbra from a “buy” rating to a “hold” rating and raised their target price for the company from $359.00 to $374.00 in a research report on Tuesday. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. BTIG Research cut Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price target for the company. in a research report on Thursday, January 15th. JPMorgan Chase & Co. upgraded Penumbra from a “neutral” rating to an “overweight” rating and raised their price target for the company from $275.00 to $370.00 in a research note on Thursday, December 18th. Finally, Leerink Partners cut Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $358.00.

Penumbra Price Performance

Shares of PEN opened at $359.54 on Friday. The company’s 50-day moving average is $311.41 and its 200-day moving average is $273.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. The firm has a market capitalization of $14.08 billion, a PE ratio of 86.01, a PEG ratio of 2.19 and a beta of 0.71. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The business had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same quarter in the prior year, the business earned $0.85 EPS. Penumbra’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director owned 8,230 shares in the company, valued at $2,573,027.20. This represents a 2.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arani Bose sold 15,000 shares of Penumbra stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the completion of the sale, the director owned 258,462 shares of the company’s stock, valued at approximately $79,818,234.84. The trade was a 5.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,144 shares of company stock worth $10,260,127. Insiders own 4.20% of the company’s stock.

Penumbra 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.