B. Metzler seel. Sohn & Co. AG Sells 2,462 Shares of Penumbra, Inc. $PEN

Key Points

• B. Metzler seel. Sohn & Co. AG has reduced its holdings in Penumbra, Inc. by 28.4%, now owning 6,213 shares valued at approximately $1.66 million after selling 2,462 shares in the first quarter.
• Penumbra's stock is currently rated as a "Moderate Buy" by analysts, with an average target price of $300.47 and multiple reports suggesting price targets ranging from $266 to $350.
• The company recently reported earnings of $0.86 per share for the last quarter, exceeding estimates, and it saw a 13.4% year-over-year revenue growth to $339.46 million.

B. Metzler seel. Sohn & Co. AG trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 28.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,213 shares of the company's stock after selling 2,462 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Penumbra were worth $1,661,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. CreativeOne Wealth LLC bought a new stake in shares of Penumbra during the 1st quarter worth $241,000. Ieq Capital LLC boosted its holdings in Penumbra by 17.3% during the first quarter. Ieq Capital LLC now owns 8,966 shares of the company's stock valued at $2,398,000 after acquiring an additional 1,324 shares during the period. Jump Financial LLC acquired a new stake in shares of Penumbra in the first quarter valued at about $294,000. AlphaQuest LLC bought a new position in shares of Penumbra in the first quarter worth about $66,000. Finally, Compound Planning Inc. acquired a new position in shares of Penumbra during the 1st quarter worth about $221,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

NYSE PEN traded down $0.03 on Wednesday, reaching $269.47. The company's stock had a trading volume of 209,522 shares, compared to its average volume of 492,874. The firm has a market cap of $10.51 billion, a PE ratio of 71.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.45. The business has a 50-day moving average price of $247.97 and a 200 day moving average price of $265.44. Penumbra, Inc. has a 52 week low of $184.80 and a 52 week high of $310.00. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results 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 analysts' expectations of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEN. UBS Group set a $335.00 price target on Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. Morgan Stanley upped their target price on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price target on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a report on Saturday. Finally, William Blair raised shares of Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $302.93.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $238.94, for a total value of $143,364.00. Following the sale, the executive vice president owned 65,457 shares of the company's stock, valued at $15,640,295.58. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas Wilder sold 372 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the sale, the director directly owned 372 shares in the company, valued at approximately $89,339.52. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,487 shares of company stock valued at $27,494,779 over the last 90 days. Company insiders own 5.00% of the company's stock.

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.