Amundi Sells 16,347 Shares of Penumbra, Inc. (NYSE:PEN)

Amundi trimmed its stake in Penumbra, Inc. (NYSE:PEN) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,939 shares of the company’s stock after selling 16,347 shares during the quarter. Amundi’s holdings in Penumbra were worth $41,749,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in Penumbra by 11.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,286 shares of the company’s stock worth $543,000 after acquiring an additional 228 shares in the last quarter. Inceptionr LLC boosted its position in shares of Penumbra by 53.8% during the fourth quarter. Inceptionr LLC now owns 3,383 shares of the company’s stock valued at $803,000 after buying an additional 1,184 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Penumbra during the fourth quarter valued at $5,976,000. Arizona State Retirement System boosted its position in shares of Penumbra by 1.0% during the fourth quarter. Arizona State Retirement System now owns 10,710 shares of the company’s stock valued at $2,543,000 after buying an additional 105 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Penumbra during the fourth quarter valued at $511,000. 88.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird increased their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Truist Financial increased their price objective on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company increased their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares of the company’s stock, valued at approximately $19,125,304.77. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,918 shares of company stock valued at $22,054,293 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Penumbra Stock Up 1.6 %

NYSE PEN opened at $266.51 on Thursday. The stock’s 50-day moving average price is $268.84 and its 200-day moving average price is $236.72. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a market capitalization of $10.26 billion, a P/E ratio of 783.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. On average, equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.