Penumbra, Inc. (NYSE:PEN) Stock Position Decreased by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in Penumbra, Inc. by 6.4% during the first quarter, leaving it with approximately 0.05% of the company valued at $5.28 million.
• Penumbra's stock opened at $240.13 with a market cap of $9.37 billion, and it reported earnings of $0.86 per share, which exceeded analyst expectations.
• Analysts have a consensus rating of "Moderate Buy" on Penumbra, with an average target price of $300.47, signaling a positive outlook for the stock's performance.

Mutual of America Capital Management LLC trimmed its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 6.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,752 shares of the company's stock after selling 1,343 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Penumbra worth $5,282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PEN. LPL Financial LLC boosted its position in shares of Penumbra by 4.0% in the 4th quarter. LPL Financial LLC now owns 9,486 shares of the company's stock valued at $2,253,000 after purchasing an additional 368 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Penumbra by 37.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,313 shares of the company's stock worth $312,000 after buying an additional 359 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Penumbra by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 60,485 shares of the company's stock worth $14,364,000 after buying an additional 2,033 shares during the period. Russell Investments Group Ltd. increased its position in shares of Penumbra by 830.2% in the fourth quarter. Russell Investments Group Ltd. now owns 19,989 shares of the company's stock worth $4,747,000 after acquiring an additional 17,840 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock worth $150,000 after acquiring an additional 39 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Up 0.1%

PEN stock opened at $240.13 on Friday. The firm has a market cap of $9.37 billion, a PE ratio of 63.87, a PEG ratio of 2.16 and a beta of 0.40. Penumbra, Inc. has a 1 year low of $164.42 and a 1 year high of $310.00. The company has a fifty day simple moving average of $247.73 and a 200 day simple moving average of $266.75. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. The business's revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Adam Elsesser sold 16,150 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total value of $3,765,534.00. Following the completion of the sale, the chief executive officer directly owned 146,258 shares in the company, valued at approximately $34,101,515.28. The trade was a 9.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bridget O'rourke sold 100 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the sale, the director directly owned 5,423 shares of the company's stock, valued at approximately $1,551,791.45. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,085 shares of company stock worth $25,658,499. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PEN shares. BTIG Research restated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Royal Bank Of Canada cut their target price on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. UBS Group set a $335.00 target price on Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company dropped their price target on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and an average target price of $300.47.

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.

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