Penumbra, Inc. (NYSE:PEN) Shares Sold by Xponance Inc.

Posted by Defense World Staff on Sep 25th, 2023

Xponance Inc. reduced its stake in shares of Penumbra, Inc. (NYSE:PEN – Free Report) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,390 shares of the company’s stock after selling 180 shares during the quarter. Xponance Inc.’s holdings in Penumbra were worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in Penumbra by 8.1% in the 1st quarter. Raymond James & Associates now owns 8,565 shares of the company’s stock valued at $1,903,000 after purchasing an additional 641 shares in the last quarter. Citigroup Inc. increased its position in shares of Penumbra by 44.5% in the first quarter. Citigroup Inc. now owns 4,979 shares of the company’s stock valued at $1,106,000 after buying an additional 1,534 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Penumbra by 15.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,211 shares of the company’s stock worth $269,000 after buying an additional 164 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Penumbra by 8.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 19,045 shares of the company’s stock worth $4,348,000 after buying an additional 1,417 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Penumbra by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 90,610 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,717 shares during the last quarter. 88.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of research reports. Robert W. Baird started coverage on shares of Penumbra in a research report on Tuesday, July 18th. They set an “outperform” rating and a $375.00 target price for the company. Citigroup increased their target price on Penumbra from $325.00 to $390.00 in a report on Monday, July 10th. Canaccord Genuity Group cut their price target on Penumbra from $351.00 to $322.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $335.00 target price on shares of Penumbra in a report on Tuesday, September 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Penumbra from $325.00 to $376.00 in a report on Monday, June 26th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.38.

Check Out Our Latest Report on Penumbra

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 900 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $340.18, for a total value of $306,162.00. Following the transaction, the executive vice president now directly owns 65,437 shares in the company, valued at approximately $22,260,358.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Johanna Roberts sold 900 shares of Penumbra stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $340.18, for a total transaction of $306,162.00. Following the transaction, the executive vice president now owns 65,437 shares in the company, valued at approximately $22,260,358.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 9,666 shares of Penumbra stock in a transaction on Monday, September 11th. The shares were sold at an average price of $298.76, for a total transaction of $2,887,814.16. The disclosure for this sale can be found here. Insiders have sold a total of 32,249 shares of company stock worth $9,328,627 in the last three months. 5.30% of the stock is currently owned by company insiders.

Penumbra Stock Performance

Shares of PEN stock opened at $247.53 on Monday. Penumbra, Inc. has a one year low of $144.76 and a one year high of $348.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.74. The company has a 50 day moving average price of $271.98 and a 200 day moving average price of $291.33. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 334.50 and a beta of 0.54.

Penumbra (NYSE:PEN – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.15. The company had revenue of $261.50 million for the quarter, compared to the consensus estimate of $253.59 million. Penumbra had a return on equity of 3.16% and a net margin of 3.11%. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. Sell-side analysts anticipate that Penumbra, Inc. will post 1.73 EPS for the current year.

Penumbra Company Profile

(Free Report)

Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.