Quent Capital LLC Has $115,000 Holdings in Penumbra, Inc. (NYSE:PEN)

Quent Capital LLC cut its holdings in Penumbra, Inc. (NYSE:PEN) by 64.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 486 shares of the company’s stock after selling 890 shares during the period. Quent Capital LLC’s holdings in Penumbra were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEN. Janus Henderson Group PLC raised its holdings in shares of Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after buying an additional 264,122 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Penumbra during the third quarter worth $31,965,000. Finally, Braidwell LP raised its position in Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after acquiring an additional 148,834 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,819 shares of company stock valued at $8,129,483. 5.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group assumed coverage on shares of Penumbra in a research note on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target for the company. Robert W. Baird increased 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. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Piper Sandler increased 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. Finally, Truist Financial increased their price target on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.36.

Penumbra Stock Performance

NYSE PEN opened at $267.42 on Thursday. The firm has a 50-day moving average of $253.46 and a 200-day moving average of $222.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock 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, Inc. has a 52-week low of $148.00 and a 52-week high of $277.89.

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.