Handelsbanken Fonder AB Sells 100 Shares of Penumbra, Inc. (NYSE:PEN)

Handelsbanken Fonder AB cut its stake in shares of Penumbra, Inc. (NYSE:PEN) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,558 shares of the company’s stock after selling 100 shares during the period. Handelsbanken Fonder AB’s holdings in Penumbra were worth $2,507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEN. Ieq Capital LLC bought a new stake in Penumbra during the 4th quarter worth approximately $1,815,000. CIBC Asset Management Inc increased its holdings in shares of Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after purchasing an additional 61 shares during the period. Baillie Gifford & Co. raised its position in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after buying an additional 138,387 shares in the last quarter. Rhumbline Advisers raised its position in shares of Penumbra by 0.8% in the fourth quarter. Rhumbline Advisers now owns 110,386 shares of the company’s stock worth $26,214,000 after buying an additional 849 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Penumbra by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 37,654 shares of the company’s stock valued at $8,942,000 after buying an additional 148 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEN has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BTIG Research boosted their price target 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. Wells Fargo & Company raised their price objective on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada increased their target price on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $292.64.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm’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 sale, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the transaction, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,219 shares of company stock valued at $4,426,439 over the last three months. 5.00% of the stock is owned by company insiders.

Penumbra Stock Down 1.3 %

PEN opened at $287.81 on Tuesday. The company has a market cap of $11.09 billion, a P/E ratio of 846.49, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The business’s 50-day moving average price is $259.90 and its 200-day moving average price is $229.52. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities analysts expect that Penumbra, Inc. will post 3.67 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.