Penumbra, Inc. (NYSE:PEN) Shares Sold by State of Michigan Retirement System

by · The Markets Daily

State of Michigan Retirement System trimmed its holdings in Penumbra, Inc. (NYSE:PEN – Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,114 shares of the company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Penumbra were worth $2,164,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Penumbra in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. increased its holdings in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after acquiring an additional 75 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Down 0.9 %

Shares of Penumbra stock opened at $275.07 on Friday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 809.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The business has a fifty day simple moving average of $267.39 and a 200-day simple moving average of $235.44. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN – Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity

In other news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the sale, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,918 shares of company stock worth $22,054,293 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of recent research reports. Truist Financial upped their price objective on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group upped their price objective on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. BTIG Research upped their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company upped their price objective on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Read Our Latest Stock Report on PEN

Penumbra Profile

(Free Report)

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.

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