Clearbridge Investments LLC boosted its stake in shares of Penumbra Inc (NYSE:PEN) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,089 shares of the company’s stock after purchasing an additional 1,037 shares during the quarter. Clearbridge Investments LLC owned about 0.94% of Penumbra worth $29,932,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Fred Alger Management Inc. acquired a new position in Penumbra during the fourth quarter worth $423,000. Amundi Pioneer Asset Management Inc. boosted its holdings in Penumbra by 7.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 117,778 shares of the company’s stock valued at $11,083,000 after acquiring an additional 8,319 shares during the last quarter. Polaris Greystone Financial Group LLC bought a new position in Penumbra during the fourth quarter worth about $392,000. Kennedy Capital Management Inc. boosted its holdings in Penumbra by 16.8% during the fourth quarter. Kennedy Capital Management Inc. now owns 84,592 shares of the company’s stock worth $7,960,000 after buying an additional 12,157 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Penumbra by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 248,206 shares of the company’s stock worth $23,356,000 after purchasing an additional 11,310 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on PEN. Wells Fargo raised their price target on Penumbra to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 13th. BMO Capital Markets lifted their target price on Penumbra from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $125.00 price target (up previously from $113.00) on shares of Penumbra in a research report on Wednesday, February 28th. William Blair assumed coverage on Penumbra in a research note on Wednesday, February 21st. They set an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $126.00.
In related news, Director Thomas Wilder sold 345 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $91.15, for a total transaction of $31,446.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Evans sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $89.89, for a total value of $3,595,600.00. Following the sale, the executive vice president now directly owns 11,704 shares of the company’s stock, valued at $1,052,072.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,345 shares of company stock worth $9,689,324. Corporate insiders own 13.50% of the company’s stock.
Shares of Penumbra stock traded down $2.00 during trading on Thursday, hitting $124.10. The company had a trading volume of 71,228 shares, compared to its average volume of 283,086. The company has a market cap of $4,218.59, a price-to-earnings ratio of 1,146.47, a price-to-earnings-growth ratio of 44.95 and a beta of 0.06. Penumbra Inc has a 52 week low of $76.15 and a 52 week high of $127.40.
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Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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