New York Life Investment Management LLC Sells 346 Shares of Penumbra, Inc. (NYSE:PEN)

New York Life Investment Management LLC decreased its stake in Penumbra, Inc. (NYSE:PEN) by 7.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,108 shares of the company’s stock after selling 346 shares during the quarter. New York Life Investment Management LLC’s holdings in Penumbra were worth $976,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PEN. Janus Henderson Group PLC grew its holdings in Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares during the period. Thrivent Financial for Lutherans grew its holdings in Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after purchasing an additional 358,932 shares during the period. Champlain Investment Partners LLC grew its holdings in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after purchasing an additional 264,122 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Penumbra during the third quarter worth about $31,965,000. Finally, Braidwell LP grew its holdings in Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after purchasing an additional 148,834 shares during the period. Institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PEN. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. StockNews.com cut Penumbra from a “buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley boosted their price objective on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.64.

Insider Buying and Selling at Penumbra

In other Penumbra 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 transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the transaction, the chief executive officer now owns 837,582 shares of the company’s stock, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Up 0.2 %

NYSE PEN opened at $285.92 on Tuesday. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a 50 day moving average of $264.16 and a 200-day moving average of $233.24. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 840.94, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

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.