Candriam S.C.A. Sells 6,419 Shares of Penumbra, Inc. $PEN

Candriam S.C.A. lessened its holdings in Penumbra, Inc. (NYSE:PEN) by 48.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,729 shares of the company’s stock after selling 6,419 shares during the period. Candriam S.C.A.’s holdings in Penumbra were worth $1,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEN. Mather Group LLC. purchased a new stake in Penumbra during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Penumbra during the 2nd quarter worth $30,000. Parkside Financial Bank & Trust grew its position in shares of Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Covestor Ltd increased its stake in shares of Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after purchasing an additional 62 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Penumbra by 68.7% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the company’s stock worth $64,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Up 0.2%

PEN opened at $338.84 on Friday. The company has a market capitalization of $13.27 billion, a PE ratio of 81.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The firm has a 50-day simple moving average of $328.06 and a two-hundred day simple moving average of $284.22. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41.

Analysts Set New Price Targets

A number of brokerages have commented on PEN. Truist Financial cut Penumbra from a “buy” rating to a “hold” rating and upped their price target for the stock from $370.00 to $374.00 in a research report on Friday, January 16th. Piper Sandler lowered shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 target price for the company. in a report on Thursday, January 15th. Needham & Company LLC downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. raised shares of Penumbra from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $275.00 to $370.00 in a research note on Thursday, December 18th. Finally, Citigroup downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and raised their price objective for the company from $350.00 to $374.00 in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $358.00.

Insider Transactions at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction that occurred on Friday, January 2nd. The stock was 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 SEC, which is available at this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total value of $58,151.04. Following the sale, the director directly owned 8,230 shares in the company, valued at $2,573,027.20. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 33,172 shares of company stock worth $10,015,279. 4.20% of the stock is owned by corporate insiders.

Penumbra Profile

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.