Trillium Asset Management LLC Trims Stock Position in Penumbra, Inc. $PEN

Trillium Asset Management LLC lessened its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,191 shares of the company’s stock after selling 1,648 shares during the period. Trillium Asset Management LLC owned approximately 0.05% of Penumbra worth $5,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in shares of Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Penumbra during the first quarter worth $66,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Penumbra during the first quarter worth $76,000. Spire Wealth Management purchased a new position in shares of Penumbra during the second quarter worth $91,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Penumbra by 1,966.7% during the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company’s stock worth $99,000 after purchasing an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEN. Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 30th. Morgan Stanley lifted their price objective on shares of Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Wells Fargo & Company set a $290.00 price objective on shares of Penumbra in a report on Wednesday, October 1st. Truist Financial cut their price objective on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.94.

Insider Buying and Selling at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the sale, the director owned 558 shares of the company’s stock, valued at $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $249.70, for a total transaction of $149,820.00. Following the sale, the executive vice president directly owned 64,257 shares of the company’s stock, valued at $16,044,972.90. This represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 48,430 shares of company stock valued at $12,504,268. Corporate insiders own 4.20% of the company’s stock.

Penumbra Stock Down 4.0%

PEN stock opened at $225.73 on Thursday. The stock has a market capitalization of $8.80 billion, a P/E ratio of 60.03, a P/E/G ratio of 2.10 and a beta of 0.51. The firm has a 50-day simple moving average of $256.21 and a 200-day simple moving average of $258.61. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $310.00.

Penumbra (NYSE:PEN) last released its 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. The business had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

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.