Corebridge Financial Inc. Sells 2,514 Shares of Penumbra, Inc. (NYSE:PEN)

Corebridge Financial Inc. cut its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,840 shares of the company's stock after selling 2,514 shares during the period. Corebridge Financial Inc. owned 0.11% of Penumbra worth $10,411,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEN. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Penumbra during the 4th quarter worth $573,000. State Street Corp increased its stake in Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company's stock valued at $240,298,000 after purchasing an additional 3,863 shares during the last quarter. E. Ohman J or Asset Management AB boosted its position in shares of 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 worth $5,061,000 after acquiring an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock valued at $64,493,000 after purchasing an additional 3,807 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Penumbra by 1.7% during the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company's stock valued at $127,417,000 after acquiring an additional 11,257 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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Penumbra Stock Performance

PEN traded up $0.28 during trading hours on Monday, reaching $267.84. The company's stock had a trading volume of 370,000 shares, compared to its average volume of 404,233. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The firm has a market cap of $10.32 billion, a PE ratio of 787.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company's 50-day moving average is $274.62 and its 200-day moving average is $243.66. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 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 firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In related news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now directly owns 8,530 shares of the company's stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arani Bose sold 12,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the transaction, the director now owns 314,819 shares of the company's stock, valued at $89,336,187.63. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,518 shares of company stock worth $26,400,219 over the last ninety days. Corporate insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of several recent research reports. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Morgan Stanley raised their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on Penumbra in a research report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price target on the stock. Canaccord Genuity Group lifted their target price on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.47.

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.