Legal & General Group Plc Sells 4,733 Shares of Penumbra, Inc. (NYSE:PEN)

Legal & General Group Plc trimmed its stake in shares of Penumbra, Inc. (NYSE:PEN) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,343 shares of the company’s stock after selling 4,733 shares during the period. Legal & General Group Plc owned about 0.17% of Penumbra worth $15,043,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC acquired a new stake in Penumbra in the 4th quarter valued at approximately $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. boosted its position in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after acquiring an additional 75 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on PEN shares. JPMorgan Chase & Co. boosted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price objective on shares of Penumbra in a research note on Tuesday. Canaccord Genuity Group lifted their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Truist Financial dropped their target price on Penumbra from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Four 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.93.

Penumbra Price Performance

Penumbra stock opened at $272.10 on Wednesday. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 800.30, a PEG ratio of 2.83 and a beta of 0.56. 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 12 month low of $148.00 and a 12 month high of $310.00. The stock’s 50 day moving average is $274.64 and its 200-day moving average is $249.90.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Thomas Wilder sold 360 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $266.93, for a total transaction of $96,094.80. Following the sale, the director now directly owns 4,692 shares in the company, valued at $1,252,435.56. This represents a 7.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the transaction, the chief executive officer now owns 16,376 shares of the company’s stock, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,236 shares of company stock valued at $31,222,390 in the last quarter. Company insiders own 5.00% of the company’s stock.

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.