Penumbra, Inc. (NYSE:PEN) Stock Position Decreased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,655 shares of the company's stock after selling 1,774 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Penumbra were worth $2,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PEN. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Penumbra during the 4th quarter valued at approximately $223,000. EFG Asset Management North America Corp. acquired a new stake in shares of Penumbra during the fourth quarter worth approximately $3,531,000. LPL Financial LLC increased its stake in shares of Penumbra by 4.0% in the fourth quarter. LPL Financial LLC now owns 9,486 shares of the company's stock worth $2,253,000 after buying an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Penumbra in the fourth quarter valued at $1,781,000. Finally, Sei Investments Co. boosted its stake in Penumbra by 18.8% during the 4th quarter. Sei Investments Co. now owns 107,616 shares of the company's stock valued at $25,557,000 after acquiring an additional 17,027 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $269.11, for a total value of $161,466.00. Following the sale, the executive vice president now directly owns 66,353 shares in the company, valued at approximately $17,856,255.83. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the transaction, the director now owns 4,533 shares of the company's stock, 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. In the last three months, insiders have sold 94,311 shares of company stock worth $26,616,640. 5.00% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on PEN shares. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 target price for the company. Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. UBS Group increased their target price on Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Bank of America started coverage on Penumbra in a research note on Friday, March 14th. They set a "buy" rating and a $320.00 price objective on the stock. 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $294.47.

Penumbra Stock Performance

Penumbra stock traded down $10.87 during mid-day trading on Friday, hitting $262.37. 576,790 shares of the company's stock traded hands, compared to its average volume of 406,639. 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 one year low of $148.00 and a one year high of $310.00. The firm has a 50 day moving average price of $274.71 and a 200 day moving average price of $244.69. The company has a market cap of $10.11 billion, a PE ratio of 771.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

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.