Thrivent Financial for Lutherans reduced its position in Penumbra, Inc. (NYSE:PEN – Free Report) by 19.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 294,732 shares of the company’s stock after selling 72,330 shares during the period. Thrivent Financial for Lutherans’ holdings in Penumbra were worth $91,635,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in Penumbra in the 4th quarter worth approximately $39,000. Rothschild Investment LLC purchased a new position in Penumbra in the 3rd quarter worth approximately $40,000. Covestor Ltd raised its holdings in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after acquiring an additional 62 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after acquiring an additional 38 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Penumbra by 36.2% in the 3rd quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after acquiring an additional 64 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.
Penumbra Trading Down 0.2%
Shares of PEN stock opened at $322.24 on Friday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The firm has a fifty day moving average price of $330.98 and a 200-day moving average price of $318.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 1.98 and a beta of 0.74.
Insiders Place Their Bets
In related 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 transaction of $832,473.60. Following the transaction, the chief financial officer owned 18,353 shares in the company, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Leerink Partners lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group downgraded shares of Penumbra from a “buy” rating to a “hold” rating and lifted their target price for the stock from $359.00 to $374.00 in a research report on Tuesday, January 20th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $374.00 target price (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $361.33.
View Our Latest Stock Analysis on PEN
About Penumbra
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.
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