Penumbra, Inc. (NYSE:PEN) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,912 shares of the company’s stock after selling 39,966 shares during the period. Ensign Peak Advisors Inc owned approximately 0.23% of Penumbra worth $20,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Quadrant Capital Group LLC lifted its stake in Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock valued at $150,000 after acquiring an additional 39 shares during the period. Pallas Capital Advisors LLC lifted its stake in Penumbra by 3.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Baker Avenue Asset Management LP lifted its stake in Penumbra by 1.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock valued at $791,000 after acquiring an additional 53 shares during the period. Pacer Advisors Inc. lifted its stake in Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after acquiring an additional 57 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock valued at $281,000 after acquiring an additional 61 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Performance

NYSE:PEN opened at $297.25 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The company has a fifty day moving average of $277.75 and a two-hundred day moving average of $261.33. The stock has a market capitalization of $11.51 billion, a PE ratio of 874.26, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN) last released its earnings results 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. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 16,650 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $289.37, for a total value of $4,818,010.50. Following the completion of the sale, the chief executive officer now owns 75,237 shares of the company’s stock, valued at approximately $21,771,330.69. This represents a 18.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now directly owns 4,533 shares of the company’s stock, valued at $1,199,341.14. This represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,096 shares of company stock valued at $44,959,983 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEN shares. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research reiterated a “buy” rating on shares of Penumbra in a research note on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $330.00 target price (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Finally, Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the company a “buy” rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $302.40.

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.