Penumbra, Inc. (NYSE:PEN) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC reduced its position in shares of Penumbra, Inc. (NYSE:PEN) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,569 shares of the company’s stock after selling 162 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Penumbra were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PEN. Janus Henderson Group PLC lifted its holdings in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after acquiring an additional 375,684 shares during the period. Thrivent Financial for Lutherans increased its holdings in Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Penumbra during the 3rd quarter worth approximately $31,965,000. Finally, Braidwell LP increased its stake in Penumbra by 70.0% in the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after purchasing an additional 148,834 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the sale, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,819 shares of company stock valued at $11,197,883 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Oppenheimer assumed coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target on the stock. Canaccord Genuity Group upped their target price on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial upped their price objective on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird upped their target price 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, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus price target of $258.00.

Penumbra Stock Performance

PEN stock opened at $264.08 on Friday. The firm has a market cap of $10.14 billion, a P/E ratio of 307.07, a P/E/G ratio of 1.84 and a beta of 0.52. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The stock’s 50 day simple moving average is $244.55 and its 200 day simple moving average is $212.47. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

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.