Penumbra, Inc. $PEN Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its holdings in Penumbra, Inc. by 12.4%, owning 10,835 shares valued at approximately $2.78 million at the end of the second quarter.
• Corporate insiders, including Director Arani Bose and CEO Adam Elsesser, recently sold significant shares of the company's stock, with Bose selling 12,000 shares and Elsesser selling 15,800 shares, leading to a substantial decrease in their positions.
• Penumbra has reported a 13.4% year-over-year revenue increase for the latest quarter, beating analysts' expectations with earnings of $0.86 per share against a forecast of $0.81.

US Bancorp DE lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,835 shares of the company's stock after selling 1,537 shares during the period. US Bancorp DE's holdings in Penumbra were worth $2,781,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PEN. Synergy Investment Management LLC acquired a new position in shares of Penumbra in the first quarter worth about $27,000. First Horizon Advisors Inc. raised its position in shares of Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after acquiring an additional 85 shares during the period. AlphaQuest LLC acquired a new position in shares of Penumbra in the first quarter worth about $66,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Penumbra in the first quarter worth about $76,000. Finally, Meeder Asset Management Inc. raised its position in shares of Penumbra by 1,966.7% in the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock worth $99,000 after acquiring an additional 354 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Buying and Selling

In other Penumbra news, Director Arani Bose sold 12,000 shares of the stock in a transaction dated 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 sale, the director owned 558 shares in the company, valued at approximately $139,862.70. This represents a 95.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,800 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the completion of the sale, the chief executive officer directly owned 182,460 shares of the company's stock, valued at approximately $49,200,339. This trade represents a 7.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,610 shares of company stock worth $20,088,148 in the last 90 days. Corporate insiders own 5.00% of the company's stock.

Penumbra Stock Up 0.9%

PEN stock opened at $255.45 on Wednesday. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 67.94, a PEG ratio of 2.28 and a beta of 0.41. 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, Inc. has a 12 month low of $198.68 and a 12 month high of $310.00. The firm has a 50-day moving average of $259.79 and a two-hundred day moving average of $261.81.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating 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 net margin of 11.54% and a return on equity of 11.55%. Penumbra's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company set a $290.00 price objective on shares of Penumbra in a research report on Wednesday, October 1st. Evercore ISI reduced their price target on shares of Penumbra from $300.00 to $285.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Needham & Company LLC set a $326.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Finally, Citigroup reduced their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $303.44.

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.

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