American Century Companies Inc. Lowers Stake in Penumbra, Inc. $PEN

Key Points

• American Century Companies Inc. reduced its stake in Penumbra, Inc. by 22.1% during the first quarter, now holding approximately $6.43 million worth of shares.
• Insider sales include CEO Adam Elsesser selling 16,150 shares for over $3.76 million, decreasing his ownership by nearly 10%.
• Penumbra reported $339.46 million in revenue for the latest quarter, exceeding analyst expectations, and announced earnings of $0.86 per share, surpassing the consensus of $0.81.

American Century Companies Inc. lessened its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,037 shares of the company's stock after selling 6,817 shares during the period. American Century Companies Inc. owned 0.06% of Penumbra worth $6,428,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Penumbra by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company's stock valued at $982,825,000 after acquiring an additional 24,727 shares in the last quarter. RTW Investments LP grew its stake in Penumbra by 8.4% during the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock valued at $204,815,000 after acquiring an additional 66,700 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock valued at $188,159,000 after acquiring an additional 572,606 shares in the last quarter. Bank of America Corp DE grew its stake in Penumbra by 19.9% during the 4th quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock valued at $82,293,000 after acquiring an additional 57,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after buying an additional 60,764 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity at Penumbra

In related news, Director Arani Bose sold 12,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the transaction, the director directly owned 558 shares of the company's stock, valued at $139,862.70. This trade represents a 95.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the transaction, the executive vice president directly owned 66,057 shares in the company, valued at $16,692,603.90. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,487 shares of company stock valued at $27,494,779. Corporate insiders own 5.00% of the company's stock.

Penumbra Stock Down 1.1%

Shares of PEN traded down $2.87 during midday trading on Tuesday, reaching $269.77. The stock had a trading volume of 108,493 shares, compared to its average volume of 493,399. Penumbra, Inc. has a 1-year low of $184.80 and a 1-year high of $310.00. The company's fifty day simple moving average is $247.69 and its two-hundred day simple moving average is $265.41. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 71.75, a PEG ratio of 2.45 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The business had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company's revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. Equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PEN shares. Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada dropped their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Robert W. Baird upped their price objective on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, UBS Group set a $335.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.44.

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.