TD Asset Management Inc Has $27.27 Million Stock Position in Penumbra, Inc. $PEN

Key Points

• TD Asset Management Inc has decreased its stake in Penumbra, Inc. by 20.1%, now holding approximately $27.27 million worth of shares.
• Analysts have set new price targets for Penumbra, raising estimates with a consensus target of $302.81, indicating a potential for growth.
• Pennumbra's earnings report showed a profit of $0.86 per share, exceeding expectations and marking a 13.4% increase in revenue year-over-year.

TD Asset Management Inc cut its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 20.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,270 shares of the company's stock after selling 26,802 shares during the period. TD Asset Management Inc owned about 0.27% of Penumbra worth $27,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PEN. GAMMA Investing LLC grew its position in Penumbra by 7.3% in the second quarter. GAMMA Investing LLC now owns 761 shares of the company's stock valued at $195,000 after acquiring an additional 52 shares during the period. Fifth Third Bancorp boosted its stake in shares of Penumbra by 16.4% in the 1st quarter. Fifth Third Bancorp now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 57 shares in the last quarter. First Horizon Advisors Inc. grew 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 worth $28,000 after purchasing an additional 85 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Penumbra in the 1st quarter worth about $27,000. Finally, State of Michigan Retirement System grew its holdings in shares of Penumbra by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,214 shares of the company's stock worth $2,464,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of 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 upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Needham & Company LLC set a $326.00 price target on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, October 8th. Wells Fargo & Company set a $290.00 price target on shares of Penumbra in a report on Wednesday, October 1st. Finally, Evercore ISI reduced their price objective on Penumbra from $300.00 to $285.00 and set an "outperform" rating on the stock in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $302.81.

Penumbra Stock Down 1.8%

Shares of NYSE PEN opened at $249.32 on Friday. Penumbra, Inc. has a 1 year low of $199.01 and a 1 year high of $310.00. The firm's 50-day moving average is $260.49 and its 200-day moving average is $261.50. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.72 billion, a PE ratio of 66.31, a price-to-earnings-growth ratio of 2.29 and a beta of 0.41.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. During the same period in the previous year, the firm posted $0.64 earnings per share. 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. Equities analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,800 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the transaction, the chief executive officer owned 182,460 shares in the company, valued at approximately $49,200,339. This trade represents a 7.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $249.70, for a total value of $149,820.00. Following the completion of the sale, the executive vice president directly owned 64,257 shares of the company's stock, valued at approximately $16,044,972.90. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,610 shares of company stock valued at $20,088,148 over the last quarter. 4.20% of the stock is owned by corporate insiders.

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.

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