Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stock Position in Penumbra, Inc. (NYSE:PEN)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,655 shares of the company’s stock after selling 1,774 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Penumbra were worth $2,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PEN. True Wealth Design LLC acquired a new stake in Penumbra during the 3rd quarter worth $26,000. UMB Bank n.a. increased its position in shares of Penumbra by 57.4% during 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. Mather Group LLC. lifted its holdings in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after purchasing an additional 75 shares during the period. Finally, GAMMA Investing LLC grew its stake in Penumbra by 160.8% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after buying an additional 275 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the transaction, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the transaction, the director now owns 314,819 shares of the company’s stock, valued at $89,336,187.63. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,518 shares of company stock worth $26,400,219. 5.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PEN shares. Royal Bank of Canada increased their price objective on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. UBS Group increased their price target on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Citigroup increased their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Bank of America began coverage on Penumbra in a research report on Friday, March 14th. They issued a “buy” rating and a $320.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

Penumbra Stock Performance

Shares of PEN opened at $271.19 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a 50-day simple moving average of $274.68 and a 200-day simple moving average of $244.25. The company has a market capitalization of $10.45 billion, a PE ratio of 797.62, a P/E/G ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

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.