Amundi Reduces Stake in Penumbra, Inc. $PEN

Amundi lowered its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,309 shares of the company's stock after selling 37,630 shares during the period. Amundi owned approximately 0.32% of Penumbra worth $33,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Synergy Investment Management LLC purchased a new stake in shares of Penumbra in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. raised its holdings in shares of Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Penumbra in the 1st quarter valued at about $66,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Penumbra in the 1st quarter valued at about $76,000. Finally, Versant Capital Management Inc raised its holdings in shares of Penumbra by 893.5% in the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after acquiring an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Buying and Selling

In related news, CFO Maggie Yuen sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This trade represents a 13.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arani Bose sold 12,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director 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 have sold 112,163 shares of company stock valued at $27,932,335 in the last 90 days. 5.00% of the stock is owned by insiders.

Penumbra Trading Down 5.2%

PEN traded down $14.85 on Wednesday, hitting $272.24. 481,440 shares of the company were exchanged, compared to its average volume of 496,368. The firm has a fifty day simple moving average of $250.64 and a two-hundred day simple moving average of $265.20. 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, Inc. has a 12 month low of $184.80 and a 12 month high of $310.00. The stock has a market capitalization of $10.62 billion, a PE ratio of 72.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same period last year, the company earned $0.64 EPS. Penumbra's revenue for the quarter was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. Sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on PEN. Morgan Stanley increased their price objective on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price objective on Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Citigroup reduced their price objective on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Wall Street Zen upgraded Penumbra from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Robert W. Baird increased their price objective on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $302.93.

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.