Apollon Wealth Management LLC Sells 3,811 Shares of Penumbra, Inc. $PEN

Apollon Wealth Management LLC lessened its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 35.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,903 shares of the company's stock after selling 3,811 shares during the quarter. Apollon Wealth Management LLC's holdings in Penumbra were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Penumbra in the 2nd quarter valued at about $25,000. Keating Financial Advisory Services Inc. bought a new position in Penumbra during the second quarter worth about $31,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Penumbra by 48.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 116 shares of the company's stock worth $37,000 after purchasing an additional 38 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Penumbra by 1,066.7% in the third quarter. CoreCap Advisors LLC now owns 140 shares of the company's stock worth $45,000 after purchasing an additional 128 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Penumbra in the second quarter worth about $51,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on PEN shares. Evercore restated an "outperform" rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Thursday, October 15th. Finally, Zacks Research upgraded Penumbra from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $367.07.

Penumbra Price Performance

PEN opened at $318.36 on Thursday. The stock's 50 day simple moving average is $320.79 and its 200 day simple moving average is $327.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 78.22, a PEG ratio of 2.23 and a beta of 0.70.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The firm had revenue of $390.05 million during the quarter, compared to analysts' expectations of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. Penumbra's revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, analysts predict that Penumbra, Inc. will post 4.96 earnings per share for the current year.

About Penumbra

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company's product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.

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