Wells Fargo & Company MN lowered its stake in shares of Penumbra Inc (NYSE:PEN) by 83.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,646 shares of the company’s stock after selling 198,714 shares during the quarter. Wells Fargo & Company MN’s holdings in Penumbra were worth $6,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its position in Penumbra by 0.5% during the second quarter. Picton Mahoney Asset Management now owns 13,140 shares of the company’s stock valued at $2,102,000 after purchasing an additional 70 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Penumbra by 5.4% during the first quarter. Campbell & CO Investment Adviser LLC now owns 2,591 shares of the company’s stock valued at $381,000 after purchasing an additional 132 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Penumbra by 0.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 42,577 shares of the company’s stock valued at $6,259,000 after purchasing an additional 180 shares in the last quarter. Botty Investors LLC bought a new stake in Penumbra during the first quarter valued at about $29,000. Finally, Manchester Capital Management LLC bought a new stake in Penumbra during the first quarter valued at about $30,000. 85.73% of the stock is currently owned by institutional investors.

NYSE PEN traded up $2.12 during trading on Monday, hitting $151.12. The company’s stock had a trading volume of 4,156 shares, compared to its average volume of 431,248. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.23 and a quick ratio of 4.33. The company has a market cap of $5.19 billion, a PE ratio of 295.66, a P/E/G ratio of 8.54 and a beta of 0.73. The business’s 50 day simple moving average is $150.88 and its 200-day simple moving average is $149.61. Penumbra Inc has a fifty-two week low of $110.84 and a fifty-two week high of $185.70.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $134.20 million during the quarter, compared to the consensus estimate of $130.67 million. Penumbra had a return on equity of 6.80% and a net margin of 3.03%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Analysts expect that Penumbra Inc will post 0.9 EPS for the current fiscal year.

A number of brokerages recently weighed in on PEN. Zacks Investment Research downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co raised their price objective on Penumbra from $180.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. ValuEngine downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised Penumbra from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a research report on Thursday, May 30th. Finally, Bank of America raised their price objective on Penumbra from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $167.14.

In other Penumbra news, CEO Adam Elsesser sold 8,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $171.84, for a total value of $1,374,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sridhar Kosaraju sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $159.96, for a total value of $799,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 39,887 shares of company stock valued at $6,233,073. Corporate insiders own 9.60% of the company’s stock.

Penumbra Company 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.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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