Amalgamated Bank Has $6.57 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Amalgamated Bank lowered its position in shares of Penumbra, Inc. (NYSE:PEN) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 26,099 shares of the company’s stock after selling 1,357 shares during the period. Amalgamated Bank’s holdings in Penumbra were worth $6,565,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in shares of Penumbra during the fourth quarter worth approximately $7,503,000. Allspring Global Investments Holdings LLC increased its holdings in Penumbra by 19.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock valued at $66,697,000 after purchasing an additional 42,876 shares in the last quarter. Yousif Capital Management LLC raised its position in Penumbra by 1.3% in the 4th quarter. Yousif Capital Management LLC now owns 18,399 shares of the company’s stock valued at $4,628,000 after purchasing an additional 234 shares during the last quarter. Aigen Investment Management LP acquired a new position in Penumbra in the third quarter worth $209,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Penumbra during the third quarter worth $424,000. 88.88% of the stock is owned by institutional investors.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $223.18, for a total value of $37,940.60. Following the sale, the director now owns 1,175 shares of the company’s stock, valued at $262,236.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the transaction, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The disclosure for this sale can be found here. Insiders sold 9,648 shares of company stock worth $2,369,903 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Penumbra Stock Performance

PEN stock opened at $208.55 on Monday. Penumbra, Inc. has a 1-year low of $180.93 and a 1-year high of $348.67. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. The firm has a market cap of $8.08 billion, a PE ratio of 90.28, a P/E/G ratio of 2.06 and a beta of 0.57. The business’s 50-day moving average price is $222.48 and its two-hundred day moving average price is $231.96.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $284.68 million for the quarter, compared to analysts’ expectations of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. Penumbra’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, research analysts forecast that Penumbra, Inc. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEN. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Penumbra in a report on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Truist Financial lowered their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $284.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Finally, TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.45.

About Penumbra

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.