Principal Financial Group Inc. Trims Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Principal Financial Group Inc. lowered its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,100 shares of the company's stock after selling 1,578 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Penumbra worth $21,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Creative Planning increased its stake in shares of Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company's stock worth $306,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company's stock worth $92,000 after purchasing an additional 453 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in Penumbra by 3.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company's stock valued at $336,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Penumbra by 37.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company's stock valued at $346,000 after buying an additional 488 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Penumbra by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company's stock valued at $872,000 after buying an additional 305 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Insider Transactions at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the transaction, the chief accounting officer now directly owns 20,682 shares of the company's stock, valued at approximately $5,016,625.92. This trade represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,219 shares of company stock worth $4,426,439 in the last 90 days. Insiders own 5.00% of the company's stock.

Penumbra Trading Down 3.6 %

Shares of NYSE PEN traded down $10.39 during trading hours on Thursday, reaching $281.46. The stock had a trading volume of 361,612 shares, compared to its average volume of 524,208. The business's fifty day moving average price is $261.63 and its two-hundred day moving average price is $230.73. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 827.81, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEN. Royal Bank of Canada lifted their price objective on shares of Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Piper Sandler reissued an "overweight" rating and issued a $330.00 price target (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Citigroup boosted their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. BTIG Research boosted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $292.64.

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.