Cynosure Group LLC Decreases Stake in Penumbra, Inc. (NYSE:PEN)

Cynosure Group LLC reduced its position in Penumbra, Inc. (NYSE:PEN) by 60.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,208 shares of the company’s stock after selling 1,879 shares during the quarter. Cynosure Group LLC’s holdings in Penumbra were worth $287,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares in the last quarter. Huntington National Bank grew its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. raised its holdings in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after acquiring an additional 75 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after acquiring an additional 275 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEN has been the topic of a number of analyst reports. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Robert W. Baird increased their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Penumbra Stock Down 1.6 %

Shares of NYSE PEN opened at $272.91 on Friday. The stock has a market capitalization of $10.51 billion, a P/E ratio of 802.66, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The firm’s 50 day simple moving average is $274.71 and its two-hundred day simple moving average is $244.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares in the company, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company’s stock, valued at $4,359,498. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,311 shares of company stock worth $26,616,640. Company 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.