Amalgamated Bank Cuts Stake in Penumbra, Inc. (NYSE:PEN)

Amalgamated Bank lowered its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,318 shares of the company's stock after selling 4,781 shares during the period. Amalgamated Bank owned about 0.06% of Penumbra worth $4,758,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in shares of Penumbra by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company's stock valued at $95,000 after buying an additional 46 shares during the last quarter. Signaturefd LLC increased its stake in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company's stock worth $54,000 after purchasing an additional 46 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company's stock valued at $27,000 after purchasing an additional 67 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Penumbra by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 16,394 shares of the company's stock worth $3,966,000 after purchasing an additional 70 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Penumbra by 6.1% in the third quarter. M&T Bank Corp now owns 1,262 shares of the company's stock worth $305,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the transaction, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the transaction, the executive vice president now directly owns 62,997 shares in the company, valued at $14,973,126.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Don W. Kassing sold 170 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the transaction, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The disclosure for this sale can be found here. Insiders have sold 25,248 shares of company stock worth $5,509,049 in the last 90 days. Insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Penumbra from $290.00 to $260.00 and set an "overweight" rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group cut their target price on Penumbra from $284.00 to $272.00 and set a "buy" rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research report on Wednesday, May 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Finally, Truist Financial reduced their target price on Penumbra from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.64.

Penumbra Stock Down 0.6 %

Shares of PEN stock traded down $1.26 during mid-day trading on Wednesday, reaching $198.97. 170,696 shares of the company's stock traded hands, compared to its average volume of 341,802. The company's 50-day moving average price is $213.92 and its 200-day moving average price is $232.58. The company has a market cap of $7.71 billion, a P/E ratio of 83.95, a P/E/G ratio of 2.04 and a beta of 0.57. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $180.93 and a 12 month high of $348.67.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same period in the previous year, the firm earned $0.23 EPS. The company's revenue was up 15.5% on a year-over-year basis. On average, equities analysts expect that Penumbra, Inc. will post 2.87 earnings per share for the current fiscal year.

Penumbra Company 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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