Handelsbanken Fonder AB Has $2.51 Million Stock Position in Penumbra, Inc. (NYSE:PEN)

Handelsbanken Fonder AB cut its position in Penumbra, Inc. (NYSE:PEN) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Penumbra during the fourth quarter valued at approximately $573,000. State Street Corp grew its position in Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after purchasing an additional 3,863 shares during the period. Thrivent Financial for Lutherans increased its stake in Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after buying an additional 2,000 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of Penumbra in the third quarter valued at $777,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Down 1.3 %

PEN opened at $287.81 on Tuesday. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The company’s 50-day moving average price is $259.90 and its two-hundred day moving average price is $229.52. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 846.49, a PEG ratio of 2.83 and a beta of 0.53. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating 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 business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. As a group, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity

In other news, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction that occurred 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. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,219 shares of company stock valued at $4,426,439 in the last 90 days. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. StockNews.com raised Penumbra from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. Piper Sandler restated an “overweight” rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Morgan Stanley upped their price target on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.64.

About Penumbra

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.