Penumbra, Inc. (NYSE:PEN) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Penumbra, Inc. (NYSE:PEN) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,661 shares of the company’s stock after selling 637 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.96% of Penumbra worth $87,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Pallas Capital Advisors LLC grew its position in shares of Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. Pacer Advisors Inc. boosted its holdings in Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc boosted its holdings in Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after purchasing an additional 61 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in Penumbra by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock worth $403,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEN. StockNews.com downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Bank of America began coverage on shares of Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Canaccord Genuity Group raised their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, February 19th. Four equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction dated 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 directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,918 shares of company stock worth $22,054,293. 5.00% of the stock is owned by corporate insiders.

Penumbra Price Performance

Shares of NYSE PEN opened at $275.40 on Wednesday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm’s 50-day simple moving average is $271.17 and its 200 day simple moving average is $238.92. 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 $10.61 billion, a P/E ratio of 810.01, a P/E/G ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its quarterly earnings data 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 business had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Equities analysts expect that Penumbra, Inc. will post 3.67 EPS for the current 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.