Quent Capital LLC Sells 890 Shares of Penumbra, Inc. (NYSE:PEN)

Quent Capital LLC reduced its position in Penumbra, Inc. (NYSE:PEN) by 64.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 486 shares of the company’s stock after selling 890 shares during the quarter. Quent Capital LLC’s holdings in Penumbra were worth $115,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEN. True Wealth Design LLC bought a new position in Penumbra in the 3rd quarter valued at about $26,000. GAMMA Investing LLC increased its holdings in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after buying an additional 90 shares during the period. UMB Bank n.a. increased its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares during the period. Mather Group LLC. increased its holdings in 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 buying an additional 208 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares during the period. 88.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEN shares. Citigroup raised their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler raised their price target on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Oppenheimer started coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target on the stock. Finally, Canaccord Genuity Group raised their price target on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.36.

Insider Buying and Selling

In other news, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares in the company, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock worth $8,129,483 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Down 0.3 %

NYSE:PEN opened at $267.42 on Thursday. The firm’s 50 day simple moving average is $253.46 and its 200 day simple moving average is $222.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.89. The company has a market cap of $10.26 billion, a PE ratio of 310.95, a P/E/G ratio of 1.92 and a beta of 0.53.

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.