Penumbra, Inc. (NYSE:PEN) Holdings Lowered by SG Americas Securities LLC

SG Americas Securities LLC decreased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 51.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,833 shares of the company's stock after selling 3,995 shares during the quarter. SG Americas Securities LLC's holdings in Penumbra were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the period. Diversify Wealth Management LLC boosted its holdings in Penumbra by 36.3% during the 4th quarter. Diversify Wealth Management LLC now owns 1,645 shares of the company's stock valued at $412,000 after acquiring an additional 438 shares during the period. Park Avenue Securities LLC lifted its holdings in Penumbra by 18.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,665 shares of the company's stock worth $395,000 after buying an additional 261 shares during the period. Pallas Capital Advisors LLC raised its holdings in Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock worth $263,000 after purchasing an additional 41 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Penumbra by 3.0% during the 4th quarter. Diversified Trust Co now owns 10,269 shares of the company's stock worth $2,439,000 after acquiring an additional 298 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PEN shares. BTIG Research upped their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Oppenheimer began coverage on Penumbra in a research report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 target price for the company. Wells Fargo & Company raised Penumbra from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $190.00 to $275.00 in a research note on Wednesday, December 11th. Robert W. Baird increased their target price on shares of Penumbra from $244.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of Penumbra from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $261.36.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now directly owns 852,582 shares in the company, valued at $202,300,656.96. This represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lambert Shiu sold 1,798 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,819 shares of company stock valued at $8,129,483 in the last ninety days. Corporate insiders own 5.00% of the company's stock.

Penumbra Price Performance

Penumbra stock traded down $0.97 during mid-day trading on Wednesday, reaching $269.85. The company had a trading volume of 371,690 shares, compared to its average volume of 495,127. The stock's 50-day simple moving average is $249.26 and its 200-day simple moving average is $217.39. The company has a market capitalization of $10.36 billion, a P/E ratio of 313.78, a P/E/G ratio of 2.02 and a beta of 0.52. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. On average, equities analysts predict that Penumbra, Inc. will post 2.81 EPS for the current 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.