Public Employees Retirement Association of Colorado bought a new position in shares of Penumbra Inc (NYSE:PEN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,012 shares of the company’s stock, valued at approximately $189,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Penumbra by 45.9% during the fourth 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 period. Simplex Trading LLC boosted its holdings in Penumbra by 116.2% in the fourth quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock worth $179,000 after acquiring an additional 1,027 shares in the last quarter. Verition Fund Management LLC bought a new position in Penumbra in the second quarter worth approximately $213,000. Teacher Retirement System of Texas bought a new position in Penumbra in the third quarter worth approximately $214,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in Penumbra by 10.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the company’s stock worth $226,000 after acquiring an additional 250 shares in the last quarter. 71.09% of the stock is owned by institutional investors and hedge funds.
In other news, insider Arani Bose sold 6,248 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $106.10, for a total value of $662,912.80. Following the transaction, the insider now owns 652,118 shares in the company, valued at $69,189,719.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sridhar Kosaraju sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $105.99, for a total value of $275,574.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,238 shares of company stock worth $13,420,932. Corporate insiders own 13.50% of the company’s stock.
Several research analysts have issued reports on PEN shares. JPMorgan Chase & Co. lowered Penumbra from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Canaccord Genuity reiterated a “buy” rating and issued a $113.00 price target on shares of Penumbra in a report on Wednesday, January 24th. Finally, BMO Capital Markets increased their price target on Penumbra from $96.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $111.50.
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Penumbra Company 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.
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