Penumbra, Inc. (NYSE:PEN) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its stake in Penumbra, Inc. (NYSE:PEN) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,719 shares of the company’s stock after selling 867 shares during the period. Exchange Traded Concepts LLC’s holdings in Penumbra were worth $883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pallas Capital Advisors LLC grew its position in shares of Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. ProShare Advisors LLC grew its holdings in Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after acquiring an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Penumbra by 3.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock worth $336,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.74, for a total transaction of $143,844.00. Following the transaction, the executive vice president now directly owns 64,044 shares in the company, valued at approximately $15,353,908.56. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,819 shares of company stock worth $8,129,483 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group began coverage on Penumbra in a research note on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target for the company. Piper Sandler upped their price target on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. BTIG Research boosted their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird lifted their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.36.

Penumbra Trading Down 0.9 %

NYSE:PEN opened at $270.40 on Wednesday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.89. The business has a fifty day moving average of $248.60 and a 200-day moving average of $216.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 314.42, a PEG ratio of 2.02 and a beta of 0.52.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. Equities analysts predict that Penumbra, Inc. will post 2.81 earnings per share 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.