Penumbra, Inc. (NYSE:PEN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,343 shares of the company's stock after selling 4,733 shares during the quarter. Legal & General Group Plc owned about 0.17% of Penumbra worth $15,043,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America began coverage on Penumbra in a report on Friday, March 14th. They set a "buy" rating and a $320.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $315.00 price target on shares of Penumbra in a report on Tuesday. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price target on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted 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. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Penumbra currently has a consensus rating of "Moderate Buy" and an average price target of $293.93.

Insider Buying and Selling at Penumbra

In related news, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the sale, the chief accounting officer now directly owns 32,969 shares in the company, valued at $9,326,270.72. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 16,560 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $274.35, for a total transaction of $4,543,236.00. Following the completion of the transaction, the chief executive officer now directly owns 63,911 shares of the company's stock, valued at approximately $17,533,982.85. This represents a 20.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,846 shares of company stock worth $35,779,187 in the last quarter. 5.00% of the stock is owned by corporate insiders.

Penumbra Stock Down 0.4 %

Shares of NYSE:PEN traded down $1.17 during trading on Friday, hitting $276.62. The stock had a trading volume of 326,817 shares, compared to its average volume of 413,769. 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 company has a market capitalization of $10.70 billion, a PE ratio of 813.60, a PEG ratio of 2.83 and a beta of 0.56. The firm's fifty day moving average is $275.47 and its 200 day moving average is $251.25. 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 announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Analysts anticipate 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.