Thrivent Financial for Lutherans Sells 34,504 Shares of Penumbra, Inc. $PEN

Thrivent Financial for Lutherans trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 9.7% during the second quarter, HoldingsChannel reports. The fund owned 322,877 shares of the company’s stock after selling 34,504 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Penumbra were worth $82,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEN. GAMMA Investing LLC raised its stake in shares of Penumbra by 7.3% during 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 last quarter. Parkside Financial Bank & Trust grew its stake in shares of Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 66 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Penumbra by 2.9% in the second quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company’s stock valued at $737,000 after purchasing an additional 82 shares during the period. Corient Private Wealth LLC raised its position in Penumbra by 4.1% during the 2nd quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock worth $599,000 after purchasing an additional 92 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Penumbra by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock worth $2,797,000 after buying an additional 100 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. BTIG Research reissued a “buy” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, October 27th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citigroup upgraded shares of Penumbra from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $285.00 to $350.00 in a research report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.75.

Penumbra Stock Up 0.3%

Penumbra stock opened at $312.41 on Monday. The company has a market capitalization of $12.23 billion, a PE ratio of 74.74, a PEG ratio of 2.58 and a beta of 0.66. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $315.01. The firm’s fifty day moving average is $269.05 and its 200 day moving average is $259.11. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The business had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. During the same period last year, the company posted $0.85 earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $248.61, for a total value of $46,241.46. Following the transaction, the director owned 8,702 shares in the company, valued at approximately $2,163,404.22. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $290.56, for a total value of $2,179,200.00. Following the completion of the sale, the director directly owned 282,761 shares of the company’s stock, valued at $82,159,036.16. This trade represents a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 19,744 shares of company stock valued at $5,755,174. 4.20% of the stock is owned by company insiders.

About Penumbra

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.