Penumbra, Inc. $PEN Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 20.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,973 shares of the company’s stock after selling 26,485 shares during the period. Principal Financial Group Inc. owned about 0.26% of Penumbra worth $25,578,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PEN. Vanguard Group Inc. lifted its holdings in shares of Penumbra by 5.0% during the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after purchasing an additional 185,306 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Penumbra by 2.6% in the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock worth $181,314,000 after buying an additional 17,772 shares during the period. Invesco Ltd. boosted its holdings in shares of Penumbra by 1,139.3% in the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock worth $162,571,000 after buying an additional 582,369 shares during the period. Norges Bank purchased a new position in shares of Penumbra in the second quarter worth approximately $114,014,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Penumbra by 13.7% during the third quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after acquiring an additional 44,185 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 0.4%

Shares of NYSE:PEN opened at $340.79 on Friday. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $13.35 billion, a PE ratio of 81.53, a P/E/G ratio of 2.10 and a beta of 0.82. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The firm has a fifty day moving average price of $324.15 and a 200 day moving average price of $281.26.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PEN shares. Needham & Company LLC cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. UBS Group cut Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Citigroup downgraded Penumbra from a “buy” rating to a “neutral” rating and upped their target price for the company from $350.00 to $374.00 in a report on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded shares of Penumbra from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $275.00 to $370.00 in a research note on Thursday, December 18th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $358.00.

Insider Buying and Selling

In other Penumbra news, Director Arani Bose sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the transaction, the director owned 258,462 shares in the company, valued at $79,818,234.84. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Johanna Roberts sold 1,800 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $300.06, for a total transaction of $540,108.00. Following the completion of the sale, the executive vice president owned 64,736 shares of the company’s stock, valued at $19,424,684.16. The trade was a 2.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,772 shares of company stock worth $10,175,467. 4.20% of the stock is currently owned by company insiders.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.