Oak Ridge Investments LLC decreased its position in shares of Penumbra Inc (NYSE:PEN) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,396 shares of the company’s stock after selling 5,778 shares during the period. Oak Ridge Investments LLC owned about 0.13% of Penumbra worth $7,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. FMR LLC raised its holdings in Penumbra by 0.3% in the 4th quarter. FMR LLC now owns 5,237,124 shares of the company’s stock worth $860,303,000 after purchasing an additional 18,184 shares in the last quarter. BlackRock Inc. raised its holdings in Penumbra by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,103,419 shares of the company’s stock worth $500,673,000 after purchasing an additional 11,544 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Penumbra by 3.9% in the 1st quarter. William Blair Investment Management LLC now owns 1,266,233 shares of the company’s stock worth $204,281,000 after purchasing an additional 48,046 shares in the last quarter. Norges Bank bought a new position in Penumbra in the 4th quarter worth $79,928,000. Finally, Franklin Resources Inc. raised its holdings in Penumbra by 8.2% in the 4th quarter. Franklin Resources Inc. now owns 406,994 shares of the company’s stock worth $66,857,000 after purchasing an additional 30,892 shares in the last quarter. 83.77% of the stock is owned by institutional investors and hedge funds.

PEN stock traded up $0.03 during trading on Wednesday, hitting $176.32. 22,724 shares of the stock traded hands, compared to its average volume of 247,097. Penumbra Inc has a 1 year low of $121.80 and a 1 year high of $194.93. The firm’s 50 day moving average is $176.16 and its two-hundred day moving average is $169.40. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 160.78 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.15 and a quick ratio of 3.27.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). Penumbra had a net margin of 7.04% and a return on equity of 5.72%. The firm had revenue of $137.33 million for the quarter, compared to analysts’ expectations of $136.28 million. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Penumbra Inc will post -0.02 EPS for the current fiscal year.

Several research analysts have commented on PEN shares. Canaccord Genuity restated a “buy” rating and issued a $184.00 price objective (down from $186.00) on shares of Penumbra in a report on Tuesday, April 7th. Citigroup upped their target price on shares of Penumbra from $192.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Investment Research downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Wells Fargo & Co reduced their target price on shares of Penumbra from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Penumbra from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $192.43.

In other news, President Sridhar Kosaraju sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $154.36, for a total transaction of $385,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Arani Bose sold 900 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $185.11, for a total transaction of $166,599.00. Following the sale, the insider now directly owns 579,762 shares in the company, valued at approximately $107,319,743.82. The disclosure for this sale can be found here. Insiders have sold a total of 49,044 shares of company stock worth $8,661,795 over the last three months. 9.60% of the stock is currently owned by insiders.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

Further Reading: How are dividend achievers different from dividend aristocrats?

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

Receive News & Ratings for Penumbra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penumbra and related companies with MarketBeat.com's FREE daily email newsletter.