Penumbra, Inc. (NYSE:PEN) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Penumbra, Inc. (NYSE:PEN) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,661 shares of the company’s stock after selling 637 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Penumbra were worth $87,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PEN. Janus Henderson Group PLC grew its stake in Penumbra by 128.1% during the 3rd 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 in the last quarter. Champlain Investment Partners LLC grew its stake in 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 in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Penumbra during the 3rd quarter valued at about $31,965,000. Braidwell LP grew its stake in Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after acquiring an additional 148,834 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after acquiring an additional 138,387 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the transaction, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,918 shares of company stock worth $22,054,293 over the last three months. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEN. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Bank of America began coverage on Penumbra in a research note on Friday, March 14th. They set a “buy” rating and a $320.00 target price on the stock. Oppenheimer initiated coverage on Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 target price on the stock. Robert W. Baird lifted their price target on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com lowered Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Penumbra Stock Down 0.2 %

PEN opened at $275.40 on Wednesday. The business has a 50 day moving average price of $271.17 and a 200 day moving average price of $238.92. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The firm has a market cap of $10.61 billion, a P/E ratio of 810.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping 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 firm had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Research analysts forecast that Penumbra, Inc. will post 3.67 EPS 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.