Massachusetts Financial Services Co. MA Cuts Holdings in Penumbra, Inc. (NYSE:PEN)

Massachusetts Financial Services Co. MA lessened its stake in Penumbra, Inc. (NYSE:PEN) by 28.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 117,605 shares of the company’s stock after selling 46,898 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Penumbra were worth $27,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG acquired a new position in Penumbra during the 4th quarter worth approximately $2,060,000. Alliancebernstein L.P. lifted its position in shares of Penumbra by 2.9% during the 4th quarter. Alliancebernstein L.P. now owns 200,175 shares of the company’s stock worth $47,538,000 after purchasing an additional 5,569 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Penumbra by 37.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,313 shares of the company’s stock worth $312,000 after purchasing an additional 359 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Penumbra by 9.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,736 shares of the company’s stock valued at $1,362,000 after buying an additional 508 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Penumbra in the fourth quarter valued at $1,994,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $19,125,304.77. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company’s stock, valued at $4,359,498. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,236 shares of company stock worth $31,222,390. Company insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Truist Financial upped their price target on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group raised their price objective on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Bank of America initiated coverage on shares of Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 target price for the company. Finally, Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average target price of $294.47.

Penumbra Price Performance

Shares of NYSE PEN opened at $262.37 on Monday. The stock has a fifty day moving average price of $274.48 and a 200 day moving average price of $245.96. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market cap of $10.11 billion, a PE ratio of 771.66, a P/E/G ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current 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.