Penumbra, Inc. $PEN Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its position in shares of Penumbra, Inc. (NYSE:PEN) by 84.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 493 shares of the company’s stock after selling 2,721 shares during the quarter. Meeder Asset Management Inc.’s holdings in Penumbra were worth $125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after purchasing an additional 5,092 shares during the period. E. Ohman J or Asset Management AB boosted its stake in Penumbra by 10.2% during the second quarter. E. Ohman J or Asset Management AB now owns 18,312 shares of the company’s stock valued at $4,699,000 after buying an additional 1,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Penumbra by 53.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,999 shares of the company’s stock worth $1,255,000 after acquiring an additional 1,748 shares during the period. Diversified Trust Co grew its holdings in Penumbra by 33.3% during the second quarter. Diversified Trust Co now owns 8,365 shares of the company’s stock worth $2,147,000 after acquiring an additional 2,089 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Penumbra by 408.3% in the second quarter. Farther Finance Advisors LLC now owns 2,262 shares of the company’s stock worth $580,000 after acquiring an additional 1,817 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Down 0.8%

NYSE:PEN opened at $320.00 on Tuesday. The business’s fifty day moving average price is $297.03 and its 200 day moving average price is $267.65. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 76.56, a PEG ratio of 1.97 and a beta of 0.71. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $325.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. During the same period last year, the company posted $0.85 EPS. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $310.72, for a total value of $57,793.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 300 shares of Penumbra stock in a transaction on Friday, December 5th. The shares were sold at an average price of $300.13, for a total transaction of $90,039.00. Following the sale, the executive vice president directly owned 63,836 shares of the company’s stock, valued at $19,159,098.68. This trade represents a 0.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,144 shares of company stock valued at $10,260,127. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEN. Royal Bank Of Canada restated an “outperform” rating and set a $355.00 price objective on shares of Penumbra in a research report on Wednesday, December 17th. Canaccord Genuity Group increased their target price on shares of Penumbra from $355.00 to $359.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Wells Fargo & Company started coverage on shares of Penumbra in a research report on Tuesday, November 18th. They issued an “underweight” rating on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $340.00 price target on shares of Penumbra in a report on Monday, January 5th. Finally, Bank of America raised their price objective on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.40.

About Penumbra

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.