Eagle Asset Management Inc. Reduces Holdings in Penumbra Inc (PEN)

Eagle Asset Management Inc. reduced its position in Penumbra Inc (NYSE:PEN) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 553,657 shares of the company’s stock after selling 9,633 shares during the period. Eagle Asset Management Inc. owned about 1.63% of Penumbra worth $52,100,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PEN. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Penumbra by 45.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,691 shares of the company’s stock worth $159,000 after purchasing an additional 532 shares during the last quarter. Simplex Trading LLC increased its position in Penumbra by 116.2% in the 4th quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock worth $179,000 after purchasing an additional 1,027 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Penumbra in the 4th quarter worth about $189,000. Verition Fund Management LLC acquired a new position in Penumbra in the 2nd quarter worth about $213,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Penumbra during the 3rd quarter worth about $214,000. 71.42% of the stock is currently owned by institutional investors.

In other news, CEO Adam Elsesser sold 62,862 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $105.15, for a total transaction of $6,609,939.30. Following the completion of the sale, the chief executive officer now owns 1,191,887 shares in the company, valued at approximately $125,326,918.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 345 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $91.15, for a total value of $31,446.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,621 shares of company stock valued at $27,344,261. 13.50% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on PEN. Canaccord Genuity reiterated a “buy” rating and set a $113.00 price target on shares of Penumbra in a research note on Wednesday, January 24th. Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets downgraded Penumbra from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $117.00 to $110.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $111.50.

Shares of Penumbra Inc (PEN) opened at $98.70 on Friday. Penumbra Inc has a 52 week low of $74.15 and a 52 week high of $116.35.

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Penumbra Profile

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.

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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