State of Tennessee Department of Treasury Sells 432 Shares of Penumbra, Inc. (NYSE:PEN)

State of Tennessee Department of Treasury cut its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,320 shares of the company’s stock after selling 432 shares during the period. State of Tennessee Department of Treasury’s holdings in Penumbra were worth $3,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new position in Penumbra during the 4th quarter worth $573,000. E. Ohman J or Asset Management AB boosted its holdings in Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after purchasing an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock worth $64,493,000 after purchasing an additional 3,807 shares in the last quarter. Washington Capital Management Inc. purchased a new stake in Penumbra in the 4th quarter valued at about $226,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after buying an additional 85,284 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent analyst reports. Truist Financial upped their target price on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group upped their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $302.40.

Penumbra Trading Up 0.8 %

NYSE:PEN opened at $300.50 on Friday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock’s fifty day moving average price is $276.99 and its two-hundred day moving average price is $254.78. 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 $11.64 billion, a P/E ratio of 883.82, a P/E/G ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analysts’ expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity

In related news, CEO Adam Elsesser sold 16,560 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $274.35, for a total value of $4,543,236.00. Following the sale, the chief executive officer now owns 63,911 shares in the company, valued at approximately $17,533,982.85. This trade represents a 20.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,446 shares of company stock worth $35,959,193. 5.00% of the stock is owned by company insiders.

About Penumbra

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.