Penumbra, Inc. (NYSE:PEN) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in Penumbra, Inc. (NYSE:PEN) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,714 shares of the company’s stock after selling 220 shares during the quarter. Amalgamated Bank’s holdings in Penumbra were worth $4,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Creative Planning boosted its position in Penumbra by 4.7% in the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after buying an additional 71 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Penumbra by 37.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company’s stock worth $346,000 after acquiring an additional 488 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Penumbra by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company’s stock valued at $872,000 after purchasing an additional 305 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Penumbra during the 3rd quarter valued at approximately $220,000. Finally, Diversify Wealth Management LLC purchased a new stake in Penumbra during the 3rd quarter worth approximately $246,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lambert Shiu sold 654 shares of Penumbra stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $243.01, for a total value of $158,928.54. Following the sale, the chief accounting officer now directly owns 20,028 shares in the company, valued at approximately $4,867,004.28. This trade represents a 3.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,421 shares of company stock worth $3,990,316 in the last ninety days. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PEN. Royal Bank of Canada increased their target price on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price objective on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group boosted their target price on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target on the stock. Finally, Morgan Stanley lifted their price target on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Four 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. According to data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $292.64.

Penumbra Trading Up 1.4 %

Shares of NYSE PEN opened at $285.36 on Friday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 839.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $263.25 and its 200 day simple moving average is $231.89.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

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.