KBC Group NV Lowers Holdings in Penumbra, Inc. $PEN

KBC Group NV trimmed its stake in Penumbra, Inc. (NYSE:PEN) by 39.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 971 shares of the company’s stock after selling 632 shares during the quarter. KBC Group NV’s holdings in Penumbra were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Penumbra by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock worth $982,825,000 after purchasing an additional 24,727 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after purchasing an additional 572,606 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Penumbra by 0.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock valued at $80,726,000 after purchasing an additional 984 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Penumbra by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock worth $75,897,000 after buying an additional 12,247 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Penumbra in the first quarter worth approximately $63,731,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $253.93, for a total transaction of $47,230.98. Following the completion of the sale, the director owned 186 shares of the company’s stock, valued at approximately $47,230.98. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $266.98, for a total value of $160,188.00. Following the completion of the sale, the executive vice president owned 63,657 shares of the company’s stock, valued at approximately $16,995,145.86. The trade was a 0.93% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 18,530 shares of company stock worth $4,961,586. 4.20% of the stock is currently owned by insiders.

Penumbra Price Performance

Shares of NYSE:PEN opened at $278.31 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.90 billion, a PE ratio of 74.02, a price-to-earnings-growth ratio of 2.10 and a beta of 0.51. The firm’s 50 day moving average price is $255.96 and its 200-day moving average price is $257.48. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $310.00.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. During the same period in the previous year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. Equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PEN shares. JPMorgan Chase & Co. raised their price target on shares of Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Evercore ISI reissued an “outperform” rating and issued a $286.00 target price on shares of Penumbra in a report on Thursday, November 6th. Truist Financial lowered their price target on Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Canaccord Genuity Group increased their price objective on Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $326.00 target price on shares of Penumbra in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $305.69.

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.