Penumbra, Inc. $PEN Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lowered its position in Penumbra, Inc. (NYSE:PEN) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,561 shares of the company’s stock after selling 1,958 shares during the period. EFG Asset Management North America Corp.’s holdings in Penumbra were worth $4,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PEN. First Horizon Advisors Inc. lifted its position in Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares during the period. Teacher Retirement System of Texas lifted its position in Penumbra by 36.8% in the first quarter. Teacher Retirement System of Texas now owns 10,773 shares of the company’s stock valued at $2,881,000 after purchasing an additional 2,897 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in Penumbra in the first quarter valued at about $259,000. Envestnet Asset Management Inc. lifted its position in Penumbra by 1.7% in the first quarter. Envestnet Asset Management Inc. now owns 61,499 shares of the company’s stock valued at $16,445,000 after purchasing an additional 1,014 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new stake in Penumbra in the first quarter valued at about $113,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PEN shares. Citigroup reduced their price objective on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Wall Street Zen cut shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday. Evercore ISI dropped their target price on shares of Penumbra from $300.00 to $285.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Royal Bank Of Canada dropped their target price on shares of Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus price target of $305.94.

Penumbra Trading Up 4.1%

Shares of PEN opened at $235.40 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm has a 50 day simple moving average of $257.06 and a 200-day simple moving average of $258.84. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $310.00. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 62.61, a price-to-earnings-growth ratio of 2.10 and a beta of 0.41.

Insider Buying and Selling at Penumbra

In other news, Director Thomas Wilder sold 372 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the transaction, the director directly owned 372 shares of the company’s stock, valued at $89,339.52. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the transaction, the director directly owned 558 shares of the company’s stock, valued at approximately $139,862.70. This trade represents a 95.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,430 shares of company stock worth $12,504,268. 4.20% of the stock is currently owned by insiders.

Penumbra Profile

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.