Sterling Capital Management LLC Has $142,000 Position in Penumbra, Inc. (NYSE:PEN)

Sterling Capital Management LLC lessened its position in Penumbra, Inc. (NYSE:PEN) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 596 shares of the company’s stock after selling 74 shares during the quarter. Sterling Capital Management LLC’s holdings in Penumbra were worth $142,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of Penumbra by 57.4% in 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 last quarter. Hurley Capital LLC acquired a new stake in Penumbra in the 4th quarter valued at $56,000. Huntington National Bank lifted its position in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

PEN has been the subject of several recent research reports. Bank of America began coverage on Penumbra in a research report on Friday, March 14th. They set a “buy” rating and a $320.00 price target for the company. Wells Fargo & Company raised their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.93.

Penumbra Price Performance

Shares of Penumbra stock opened at $270.53 on Tuesday. The company has a 50-day simple moving average of $275.53 and a two-hundred day simple moving average of $252.59. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 795.68, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. 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 (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling

In other news, CEO Adam Elsesser sold 16,560 shares of Penumbra stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $274.35, for a total value of $4,543,236.00. Following the transaction, the chief executive officer now owns 63,911 shares in the company, valued at approximately $17,533,982.85. This trade represents a 20.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,243 shares in the company, valued at $4,359,498. This trade represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,846 shares of company stock worth $35,779,187. Company insiders own 5.00% of the company’s stock.

About Penumbra

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.