Penumbra, Inc. $PEN Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in Penumbra, Inc. by selling 2,208 shares, now owning approximately 316,022 shares valued at $84.5 million as of the end of the last quarter.
• JPMorgan Chase & Co. significantly increased its stake in Penumbra by 437%, now holding 703,634 shares worth $188 million after purchasing an additional 572,606 shares.
• Penumbra's stock has a market capitalization of $10.32 billion and experienced a 5.3% increase in trading, with analysts projecting an average price target of $300.47 and a current rating of "Moderate Buy."

Northern Trust Corp reduced its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,022 shares of the company's stock after selling 2,208 shares during the period. Northern Trust Corp owned about 0.82% of Penumbra worth $84,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC purchased a new position in shares of Penumbra during the first quarter worth $259,000. GAMMA Investing LLC boosted its position in shares of Penumbra by 59.0% during the first quarter. GAMMA Investing LLC now owns 709 shares of the company's stock worth $190,000 after buying an additional 263 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Penumbra by 606.3% during the first quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock worth $121,000 after buying an additional 382 shares during the period. Gotham Asset Management LLC purchased a new position in shares of Penumbra during the fourth quarter worth $275,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Penumbra during the first quarter worth $2,614,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Up 0.5%

NYSE PEN traded up $1.28 during trading on Friday, reaching $272.96. 395,485 shares of the company's stock were exchanged, compared to its average volume of 433,805. The stock has a market cap of $10.65 billion, a P/E ratio of 72.60, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The company has a 50 day moving average price of $247.32 and a two-hundred day moving average price of $265.42. Penumbra, Inc. has a 1 year low of $184.80 and a 1 year high of $310.00.

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

Insider Activity at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares of the company's stock, valued at $3,235,750. The trade was a 13.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,087 shares of company stock worth $27,649,681 over the last three months. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEN. Citigroup lowered their price target on Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. UBS Group set a $335.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded Penumbra from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird lifted their target price on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and a consensus price target of $300.47.

Penumbra Company 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.