Penumbra, Inc. (NYSE:PEN) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 21.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,714 shares of the company's stock after selling 7,060 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.07% of Penumbra worth $6,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Penumbra during the 4th quarter valued at $54,396,000. Baillie Gifford & Co. increased its stake in shares of Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after buying an additional 138,387 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after acquiring an additional 85,284 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Penumbra in the fourth quarter worth about $13,451,000. Finally, Marshall Wace LLP grew its holdings in Penumbra by 2,312.3% during the 4th quarter. Marshall Wace LLP now owns 43,952 shares of the company's stock worth $10,438,000 after acquiring an additional 42,130 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday. Robert W. Baird upped their target price on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday. Wells Fargo & Company increased their target price on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus set a $318.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Thursday. Finally, BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Stock Performance

Shares of Penumbra stock traded up $2.25 during midday trading on Friday, hitting $300.50. The company had a trading volume of 608,778 shares, compared to its average volume of 424,593. The company has a fifty day simple moving average of $276.99 and a 200 day simple moving average of $254.78. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 883.82, a PEG ratio of 2.83 and a beta of 0.56. 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 12-month low of $148.00 and a 12-month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $300.01, for a total value of $180,006.00. Following the sale, the executive vice president now owns 66,159 shares in the company, valued at $19,848,361.59. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,446 shares of company stock worth $35,959,193 in the last 90 days. Insiders own 5.00% of the company's stock.

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.