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

New York Life Investment Management LLC trimmed its position in Penumbra, Inc. (NYSE:PEN) by 7.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,108 shares of the company’s stock after selling 346 shares during the period. New York Life Investment Management LLC’s holdings in Penumbra were worth $976,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new position in Penumbra in the 3rd quarter valued at $26,000. UMB Bank n.a. boosted its position in 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 buying an additional 70 shares during the last quarter. Mather Group LLC. boosted its position in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after buying an additional 208 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Penumbra by 160.8% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock valued at $106,000 after purchasing an additional 275 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEN. Morgan Stanley increased their price target on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their price target on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Truist Financial increased their price target on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer began coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target on the stock. Finally, Robert W. Baird increased their price target on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.64.

Penumbra Stock Performance

PEN opened at $285.92 on Tuesday. The business’s 50-day moving average price is $264.16 and its two-hundred day moving average price is $233.24. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 840.94, a P/E/G ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (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 firm had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Equities analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of the firm’s 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 owns 837,582 shares in the company, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 167 shares of the firm’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 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.