Penumbra, Inc. (NYSE:PEN) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,771 shares of the company’s stock after selling 611 shares during the period. Ameriprise Financial Inc. owned 0.13% of Penumbra worth $12,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC lifted its stake in shares of Penumbra by 29.9% in the 4th quarter. Algert Global LLC now owns 18,974 shares of the company’s stock worth $4,506,000 after acquiring an additional 4,362 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Penumbra by 41.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,760 shares of the company’s stock worth $418,000 after acquiring an additional 519 shares during the period. AQR Capital Management LLC lifted its stake in shares of Penumbra by 19.6% in the 4th quarter. AQR Capital Management LLC now owns 159,435 shares of the company’s stock worth $37,863,000 after acquiring an additional 26,144 shares during the period. Northern Trust Corp lifted its stake in shares of Penumbra by 20.8% in the 4th quarter. Northern Trust Corp now owns 318,230 shares of the company’s stock worth $75,573,000 after acquiring an additional 54,890 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Penumbra by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 104,193 shares of the company’s stock worth $24,744,000 after acquiring an additional 1,486 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEN has been the topic of a number of research reports. StockNews.com upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a “buy” rating in a research note on Thursday, April 24th. Robert W. Baird upped their price objective on shares of Penumbra from $316.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Canaccord Genuity Group upped their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $302.40.

Insider Activity

In related news, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the transaction, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at $9,326,270.72. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. This trade represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,696 shares of company stock valued at $50,207,745. 4.20% of the stock is currently owned by insiders.

Penumbra Trading Up 2.1%

Shares of PEN opened at $281.10 on Monday. The business has a 50-day moving average of $279.37 and a 200 day moving average of $263.96. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm has a market cap of $10.89 billion, a P/E ratio of 826.76, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Penumbra’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. As a group, research analysts forecast 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.