Penumbra, Inc. (NYSE:PEN) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,099 shares of the company’s stock after selling 1,357 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Penumbra worth $6,565,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Penumbra by 6.4% in the 3rd quarter. Invesco Ltd. now owns 551,923 shares of the company’s stock valued at $133,516,000 after acquiring an additional 33,107 shares during the last quarter. Rock Springs Capital Management LP increased its stake in shares of Penumbra by 37.6% during the 3rd quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock worth $121,862,000 after purchasing an additional 137,750 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Penumbra by 19.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after purchasing an additional 42,876 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Penumbra by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,103 shares of the company’s stock worth $57,841,000 after purchasing an additional 6,436 shares during the last quarter. Finally, Redmile Group LLC lifted its stake in Penumbra by 11.6% in the 3rd quarter. Redmile Group LLC now owns 155,076 shares of the company’s stock valued at $37,514,000 after buying an additional 16,106 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Up 1.2 %

NYSE PEN opened at $208.55 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. Penumbra, Inc. has a one year low of $180.93 and a one year high of $348.67. The company’s 50 day moving average price is $222.48 and its 200 day moving average price is $231.96. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 90.28, a PEG ratio of 2.06 and a beta of 0.57.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $284.68 million during the quarter, compared to analysts’ expectations of $286.62 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. On average, sell-side analysts predict that Penumbra, Inc. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PEN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $289.00 price target on shares of Penumbra in a report on Friday, February 23rd. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Piper Sandler reissued an “overweight” rating and issued a $290.00 price objective on shares of Penumbra in a research report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Finally, Truist Financial lowered their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $304.45.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the transaction, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now directly owns 1,175 shares in the company, valued at $262,236.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,648 shares of company stock valued at $2,369,903. Corporate insiders own 5.00% of the company’s stock.

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.