Champlain Investment Partners LLC Sells 626,034 Shares of Penumbra, Inc. $PEN

Key Points

• Champlain Investment Partners LLC decreased its holdings in Penumbra, Inc. by 41.8%, owning approximately 869,923 shares valued at $232.63 million.
• Penumbra reported a net income of $0.86 earnings per share for the latest quarter, surpassing analyst expectations of $0.81, and achieving a revenue of $339.46 million.
• The stock has a current consensus rating of "Moderate Buy" with an average target price of $300.47, according to recent analyst reports.

Champlain Investment Partners LLC decreased its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 41.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 869,923 shares of the company's stock after selling 626,034 shares during the period. Penumbra accounts for about 1.7% of Champlain Investment Partners LLC's investment portfolio, making the stock its 5th biggest position. Champlain Investment Partners LLC owned approximately 2.25% of Penumbra worth $232,626,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Morgan Stanley boosted their price objective on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird boosted their price objective on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada reduced their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $300.47.

Penumbra Stock Up 0.5%

NYSE:PEN traded up $1.28 during mid-day trading on Monday, hitting $272.96. 395,485 shares of the company's stock traded hands, compared to its average volume of 418,876. The company has a fifty day moving average of $247.32 and a 200 day moving average of $265.37. Penumbra, Inc. has a twelve month low of $184.80 and a twelve month high of $310.00. The company has a market capitalization of $10.65 billion, a P/E ratio of 72.60, a P/E/G ratio of 2.45 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

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

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total value of $151,620.00. Following the transaction, the executive vice president directly owned 66,057 shares of the company's stock, valued at $16,692,603.90. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of the company's 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 completion of the transaction, the director directly owned 558 shares in the company, valued at approximately $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,487 shares of company stock valued at $27,494,779 in the last quarter. Insiders own 5.00% of the company's stock.

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.