CANADA LIFE ASSURANCE Co Sells 7,060 Shares of Penumbra, Inc. (NYSE:PEN)

CANADA LIFE ASSURANCE Co decreased its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,714 shares of the company's stock after selling 7,060 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.07% of Penumbra worth $6,105,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Farringdon Capital Ltd. purchased a new stake in shares of Penumbra in the 4th quarter worth about $632,000. Marshall Wace LLP raised its position in shares of Penumbra by 2,312.3% during the 4th quarter. Marshall Wace LLP now owns 43,952 shares of the company's stock worth $10,438,000 after purchasing an additional 42,130 shares during the last quarter. XTX Topco Ltd grew its holdings in Penumbra by 111.3% during the 4th quarter. XTX Topco Ltd now owns 5,664 shares of the company's stock valued at $1,345,000 after buying an additional 2,984 shares during the last quarter. Mariner LLC increased its position in Penumbra by 5.2% during the fourth quarter. Mariner LLC now owns 9,356 shares of the company's stock worth $2,222,000 after buying an additional 464 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Penumbra by 65.3% in the fourth quarter. Barclays PLC now owns 29,796 shares of the company's stock worth $7,076,000 after acquiring an additional 11,771 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PEN shares. Piper Sandler restated an "overweight" rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Bank of America began coverage on shares of Penumbra in a research report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Truist Financial lifted their target price on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, UBS Group reissued a "buy" rating and set a $330.00 price objective (up from $320.00) on shares of Penumbra in a report on Thursday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Penumbra currently has a consensus rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Stock Down 0.8 %

Shares of PEN stock traded down $2.33 on Tuesday, reaching $295.00. 69,339 shares of the company's stock traded hands, compared to its average volume of 423,512. The business's 50 day moving average price is $276.87 and its two-hundred day moving average price is $255.88. The company has a market capitalization of $11.42 billion, a P/E ratio of 868.22, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. During the same quarter last year, the business posted $0.41 EPS. The company's revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. This represents a 79.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas Wilder sold 360 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,446 shares of company stock valued at $35,959,193 in the last three months. Corporate insiders own 5.00% of the company's stock.

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.