Penumbra, Inc. (NYSE:PEN) Holdings Lowered by Amalgamated Bank

Amalgamated Bank cut its stake in Penumbra, Inc. (NYSE:PEN) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,714 shares of the company’s stock after selling 220 shares during the period. Amalgamated Bank’s holdings in Penumbra were worth $4,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PEN. Creative Planning lifted its position in Penumbra by 4.7% in the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after purchasing an additional 71 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Penumbra by 37.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company’s stock worth $346,000 after buying an additional 488 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Penumbra by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company’s stock valued at $872,000 after buying an additional 305 shares during the period. Pallas Capital Advisors LLC bought a new position in Penumbra during the third quarter valued at about $220,000. Finally, Diversify Wealth Management LLC bought a new position in Penumbra during the third quarter valued at about $246,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of Penumbra stock opened at $285.36 on Friday. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.99 billion, a PE ratio of 839.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The business has a fifty day simple moving average of $263.25 and a 200-day simple moving average of $231.89.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEN has been the subject of a number of research analyst reports. BTIG Research upped their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Citigroup increased their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their price target on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Canaccord Genuity Group raised their price objective on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average price target of $292.64.

Insider Activity at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at $15,511,423.56. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lambert Shiu sold 654 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $243.01, for a total value of $158,928.54. Following the completion of the sale, the chief accounting officer now directly owns 20,028 shares of the company’s stock, valued at approximately $4,867,004.28. The trade was a 3.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,421 shares of company stock valued at $3,990,316. 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.