SG Americas Securities LLC Cuts Stock Holdings in Penumbra, Inc. (NYSE:PEN)

SG Americas Securities LLC lessened its position in shares of Penumbra, Inc. (NYSE:PEN) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,833 shares of the company’s stock after selling 3,995 shares during the quarter. SG Americas Securities LLC’s holdings in Penumbra were worth $910,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. State Street Corp lifted its stake in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares during the period. Thrivent Financial for Lutherans grew its holdings in Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Penumbra during the 3rd quarter valued at approximately $1,092,000. AlphaCentric Advisors LLC purchased a new position in Penumbra during the third quarter worth about $777,000. Finally, LMR Partners LLP purchased a new stake in shares of Penumbra in the 3rd quarter valued at $2,330,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE PEN opened at $270.40 on Wednesday. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $248.60 and a 200-day simple moving average of $216.83. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.89. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 314.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. As a group, equities research analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.74, for a total value of $143,844.00. Following the transaction, the executive vice president now owns 64,044 shares in the company, valued at approximately $15,353,908.56. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,819 shares of company stock worth $8,129,483 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PEN shares. UBS Group initiated coverage on Penumbra in a research report on Tuesday, January 21st. They set a “buy” rating and a $305.00 price objective for the company. Piper Sandler raised their price target on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Truist Financial upped their price objective on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, BTIG Research lifted their target price on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.36.

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.