Penumbra, Inc. (NYSE:PEN) Stake Reduced by Securian Asset Management Inc.

Securian Asset Management Inc. cut its holdings in Penumbra, Inc. (NYSE:PEN) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,901 shares of the company’s stock after selling 154 shares during the quarter. Securian Asset Management Inc.’s holdings in Penumbra were worth $689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pallas Capital Advisors LLC raised its position in Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after acquiring an additional 41 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the period. Pacer Advisors Inc. raised its holdings in Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares during the period. CIBC Asset Management Inc raised its holdings in Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after buying an additional 61 shares during the period. Finally, UMB Bank n.a. raised its holdings in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEN has been the topic of several recent analyst reports. Truist Financial boosted their price objective on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. BTIG Research boosted their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Bank of America initiated coverage on Penumbra in a report on Friday. They set a “buy” rating and a $320.00 price objective on the stock. UBS Group boosted their price objective on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada upped their target price on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Penumbra currently has an average rating of “Moderate Buy” and a consensus target price of $294.47.

Penumbra Trading Up 4.9 %

Shares of NYSE PEN opened at $273.51 on Monday. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 804.45, a PEG ratio of 2.83 and a beta of 0.51. The business has a 50 day simple moving average of $269.89 and a 200 day simple moving average of $237.89. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS 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 analysts’ expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 $9,326,270.72. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,918 shares of company stock valued at $22,054,293 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Penumbra 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.