CW Advisors LLC Sells 7,051 Shares of Penumbra, Inc. $PEN

Key Points

• CW Advisors LLC has reduced its stake in Penumbra, Inc. by 8.8%, now owning approximately $19.47 million worth of shares, representing 0.19% of the company's stock.
• Penumbra recently posted earnings that surpassed expectations, reporting an EPS of $0.86 and revenue of $339.46 million for the quarter, reflecting a 13.4% year-over-year growth.
• Wall Street analysts have a generally positive outlook on Penumbra, with a consensus rating of "Moderate Buy" and a target price averaging $300.47 for the stock.

CW Advisors LLC reduced its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 8.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 72,817 shares of the company's stock after selling 7,051 shares during the quarter. CW Advisors LLC owned about 0.19% of Penumbra worth $19,472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in Penumbra by 13.8% during the first quarter. Hsbc Holdings PLC now owns 1,401 shares of the company's stock valued at $375,000 after purchasing an additional 170 shares in the last quarter. 17 Capital Partners LLC increased its holdings in shares of Penumbra by 83.3% in the 1st quarter. 17 Capital Partners LLC now owns 1,771 shares of the company's stock worth $474,000 after buying an additional 805 shares during the last quarter. Algert Global LLC grew its position in Penumbra by 23.7% in the first quarter. Algert Global LLC now owns 23,464 shares of the company's stock worth $6,275,000 after acquiring an additional 4,490 shares in the last quarter. Raymond James Financial Inc. increased its stake in Penumbra by 38.5% during the first quarter. Raymond James Financial Inc. now owns 34,850 shares of the company's stock worth $9,319,000 after acquiring an additional 9,687 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its stake in Penumbra by 8.8% during the first quarter. Alliance Wealth Advisors LLC UT now owns 3,570 shares of the company's stock worth $955,000 after acquiring an additional 288 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $258.17, for a total value of $154,902.00. Following the completion of the sale, the executive vice president directly owned 64,714 shares of the company's stock, valued at $16,707,213.38. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Elsesser sold 16,300 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $267.91, for a total transaction of $4,366,933.00. Following the transaction, the chief executive officer owned 98,289 shares in the company, valued at approximately $26,332,605.99. The trade was a 14.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,387 shares of company stock worth $32,016,614 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PEN. William Blair upgraded Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Robert W. Baird raised their price target on Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Penumbra from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup reduced their target price on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Finally, UBS Group set a $335.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Penumbra presently has an average rating of "Moderate Buy" and an average target price of $300.47.

Penumbra Trading Up 5.3%

Shares of NYSE PEN traded up $13.3030 during mid-day trading on Friday, reaching $264.6730. The company had a trading volume of 604,846 shares, compared to its average volume of 481,348. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 70.39, a price-to-earnings-growth ratio of 2.38 and a beta of 0.40. Penumbra, Inc. has a 52 week low of $184.80 and a 52 week high of $310.00. The business's 50-day moving average is $246.20 and its 200-day moving average is $265.28. 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 issued its earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.