Penumbra, Inc. $PEN Stake Trimmed by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC reduced its position in Penumbra, Inc. (NYSE:PEN) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,307 shares of the company’s stock after selling 2,500 shares during the period. Penumbra makes up 2.3% of Oak Harbor Wealth Partners LLC’s portfolio, making the stock its 9th biggest position. Oak Harbor Wealth Partners LLC’s holdings in Penumbra were worth $9,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Penumbra by 13.7% during the third quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock worth $92,984,000 after acquiring an additional 44,185 shares during the period. AQR Capital Management LLC increased its position in shares of Penumbra by 139.4% during the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after acquiring an additional 192,734 shares during the period. Holocene Advisors LP purchased a new position in shares of Penumbra during the third quarter worth approximately $78,585,000. Dimensional Fund Advisors LP increased its holdings in Penumbra by 41.1% during the third quarter. Dimensional Fund Advisors LP now owns 296,584 shares of the company’s stock valued at $75,126,000 after buying an additional 86,335 shares during the period. Finally, Bank of America Corp DE increased its holdings in Penumbra by 26.7% during the second quarter. Bank of America Corp DE now owns 263,627 shares of the company’s stock valued at $67,655,000 after buying an additional 55,551 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEN has been the topic of several research reports. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $350.00 to $374.00 in a report on Thursday, January 15th. William Blair lowered shares of Penumbra from an “outperform” rating to a “market perform” rating in a report on Thursday, January 15th. Needham & Company LLC lowered shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Piper Sandler lowered shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price objective on the stock. in a report on Thursday, January 15th. Finally, Canaccord Genuity Group lowered shares of Penumbra from a “buy” rating to a “hold” rating and lifted their price objective for the company from $359.00 to $374.00 in a report on Tuesday, January 20th. 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, the stock presently has an average rating of “Hold” and a consensus target price of $364.60.

Penumbra Trading Down 0.3%

NYSE:PEN opened at $325.61 on Friday. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The firm has a fifty day simple moving average of $334.12 and a 200-day simple moving average of $314.09. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $12.78 billion, a P/E ratio of 72.04, a PEG ratio of 1.99 and a beta of 0.74.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.12 by ($1.49). Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The company had revenue of $385.39 million for the quarter, compared to analyst estimates of $367.18 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities research analysts anticipate that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Thursday, April 2nd. The shares were 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 of the company’s stock, valued at $2,861,750.18. The trade was a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.