Federated Investors Inc. PA Cuts Stake in Penumbra Inc (NYSE:PEN)

Federated Investors Inc. PA cut its position in Penumbra Inc (NYSE:PEN) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 437,165 shares of the company’s stock after selling 36,500 shares during the quarter. Federated Investors Inc. PA owned approximately 1.28% of Penumbra worth $50,558,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Penumbra by 40.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 16,420 shares of the company’s stock valued at $1,545,000 after buying an additional 4,726 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in Penumbra in the 4th quarter valued at $33,998,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Penumbra by 45.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,691 shares of the company’s stock valued at $159,000 after purchasing an additional 532 shares during the period. Polaris Greystone Financial Group LLC bought a new stake in Penumbra in the 4th quarter valued at $392,000. Finally, Swiss National Bank boosted its holdings in Penumbra by 2.3% in the 4th quarter. Swiss National Bank now owns 48,900 shares of the company’s stock valued at $4,601,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 74.54% of the company’s stock.

Shares of NYSE:PEN traded down $2.45 during trading on Thursday, hitting $156.90. 613,900 shares of the company’s stock were exchanged, compared to its average volume of 278,796. Penumbra Inc has a 1-year low of $77.75 and a 1-year high of $167.35. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of -15,690.00, a P/E/G ratio of 49.30 and a beta of 0.11.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.08. Penumbra had a net margin of 3.65% and a return on equity of 1.13%. The company had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $90.98 million. During the same quarter in the previous year, the company earned ($0.10) EPS. Penumbra’s revenue was up 40.3% on a year-over-year basis. sell-side analysts anticipate that Penumbra Inc will post 0.17 EPS for the current year.

A number of equities analysts have recently commented on the stock. William Blair assumed coverage on shares of Penumbra in a report on Wednesday, February 21st. They set an “outperform” rating for the company. Canaccord Genuity reaffirmed a “buy” rating and set a $125.00 price objective (up from $113.00) on shares of Penumbra in a report on Wednesday, February 28th. Wells Fargo & Co increased their target price on shares of Penumbra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. BMO Capital Markets increased their target price on shares of Penumbra from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Finally, Goldman Sachs Group started coverage on shares of Penumbra in a research report on Wednesday, April 4th. They set a “buy” rating and a $145.00 target price for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $161.00.

In related news, Director Bridget O’rourke purchased 700 shares of the business’s stock in a transaction on Friday, May 25th. The shares were purchased at an average price of $156.40 per share, with a total value of $109,480.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lynn Rothman sold 6,000 shares of the business’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $135.05, for a total transaction of $810,300.00. Following the completion of the sale, the executive vice president now directly owns 139,419 shares in the company, valued at approximately $18,828,535.95. The disclosure for this sale can be found here. Insiders have sold a total of 21,900 shares of company stock worth $3,002,726 in the last three months. 10.70% of the stock is owned by insiders.

Penumbra Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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