Bank of Montreal Can Sells 5,310 Shares of Penumbra, Inc. (NYSE:PEN)

Bank of Montreal Can lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 31.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,348 shares of the company's stock after selling 5,310 shares during the quarter. Bank of Montreal Can's holdings in Penumbra were worth $2,695,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Penumbra in the 4th quarter valued at approximately $573,000. E. Ohman J or Asset Management AB lifted its stake in Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock valued at $5,061,000 after acquiring an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after acquiring an additional 3,807 shares in the last quarter. Geode Capital Management LLC grew its position in Penumbra by 1.7% in the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company's stock worth $127,417,000 after acquiring an additional 11,257 shares in the last quarter. Finally, Washington Capital Management Inc. acquired a new position in shares of Penumbra during the 4th quarter worth $226,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America began coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. StockNews.com downgraded Penumbra from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price objective on Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird increased their price target on Penumbra from $305.00 to $328.00 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $293.93.

Insider Activity at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares of the company's stock, valued at $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 16,560 shares of Penumbra stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $274.35, for a total value of $4,543,236.00. Following the sale, the chief executive officer now directly owns 63,911 shares in the company, valued at $17,533,982.85. The trade was a 20.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,846 shares of company stock worth $35,779,187. 5.00% of the stock is owned by corporate insiders.

Penumbra Stock Performance

Penumbra stock traded down $1.17 during mid-day trading on Friday, reaching $276.62. The company had a trading volume of 326,817 shares, compared to its average volume of 414,071. The company has a 50 day moving average of $275.47 and a 200-day moving average of $251.25. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. 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 $10.70 billion, a price-to-earnings ratio of 813.60, a PEG ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal 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.