Candriam S.C.A. Trims Stake in Penumbra, Inc. $PEN

Candriam S.C.A. cut its stake in Penumbra, Inc. (NYSE:PEN) by 48.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,729 shares of the company’s stock after selling 6,419 shares during the period. Candriam S.C.A.’s holdings in Penumbra were worth $1,705,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEN. Covestor Ltd lifted its stake in shares of Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after purchasing an additional 62 shares during the period. Parkside Financial Bank & Trust raised its holdings in Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 66 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Penumbra by 2.9% during the second quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company’s stock valued at $737,000 after buying an additional 82 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Penumbra by 4.1% during the 2nd quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock valued at $599,000 after buying an additional 92 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Penumbra by 0.3% in the 2nd quarter. New York State Teachers Retirement System now owns 38,154 shares of the company’s stock worth $9,791,000 after buying an additional 100 shares during the period. 88.88% of the stock is owned by institutional investors.

Insider Activity at Penumbra

In other news, Director Arani Bose sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the completion of the transaction, the director directly owned 258,462 shares of the company’s stock, valued at $79,818,234.84. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the sale, the director owned 8,230 shares in the company, valued at $2,573,027.20. This represents a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 33,172 shares of company stock valued at $10,015,279. Insiders own 4.20% of the company’s stock.

Penumbra Stock Up 0.2%

PEN stock opened at $338.84 on Friday. The stock has a market capitalization of $13.27 billion, a P/E ratio of 81.06, a P/E/G ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The business has a fifty day moving average price of $328.06 and a 200-day moving average price of $284.22.

Wall Street Analysts Forecast Growth

PEN has been the topic of several research reports. Bank of America boosted their price objective on shares of Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. UBS Group lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Evercore restated an “outperform” rating and issued a $340.00 price target on shares of Penumbra in a research note on Monday, January 5th. Truist Financial lowered Penumbra from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $374.00 in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. raised Penumbra from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $275.00 to $370.00 in a report on Thursday, December 18th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $358.00.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.