Allianz Asset Management GmbH reduced its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 65.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the company's stock after selling 5,282 shares during the quarter. Allianz Asset Management GmbH's holdings in Penumbra were worth $749,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Synergy Investment Management LLC acquired a new position in Penumbra during the 1st quarter valued at about $27,000. First Horizon Advisors Inc. increased its position in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares in the last quarter. Hurley Capital LLC acquired a new position in Penumbra during the 4th quarter valued at about $56,000. Huntington National Bank increased its position in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after buying an additional 154 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after buying an additional 277 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PEN has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Canaccord Genuity Group raised their price objective on Penumbra from $340.00 to $350.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley upped their target price on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research report on Thursday. UBS Group set a $335.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Penumbra has an average rating of "Moderate Buy" and an average price target of $300.47.
Read Our Latest Research Report on Penumbra
Penumbra Stock Performance
Penumbra stock traded down $2.30 during midday trading on Monday, hitting $240.71. 427,592 shares of the company were exchanged, compared to its average volume of 531,568. The firm has a market capitalization of $9.39 billion, a PE ratio of 69.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.40. Penumbra, Inc. has a fifty-two week low of $163.63 and a fifty-two week high of $310.00. The business has a fifty day simple moving average of $249.42 and a two-hundred day simple moving average of $267.29. 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 posted its earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. On average, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.
Insider Buying and Selling
In other Penumbra news, CEO Adam Elsesser sold 16,650 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the transaction, the chief executive officer owned 75,237 shares in the company, valued at approximately $21,771,330.69. This represents a 18.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 900 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $298.55, for a total value of $268,695.00. Following the transaction, the executive vice president owned 65,314 shares in the company, valued at $19,499,494.70. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,735 shares of company stock worth $30,476,510 in the last quarter. 5.00% of the stock is currently owned by company insiders.
Penumbra Profile
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Free Report)
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.
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