Bank of Montreal Can Lowers Stake in Penumbra, Inc. $PEN

Bank of Montreal Can lessened its position in Penumbra, Inc. (NYSE:PEN) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,028 shares of the company’s stock after selling 2,203 shares during the period. Bank of Montreal Can’s holdings in Penumbra were worth $3,857,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in 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 acquiring an additional 24,727 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock worth $188,159,000 after purchasing an additional 572,606 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Penumbra by 0.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock worth $80,726,000 after purchasing an additional 984 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Penumbra by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock valued at $75,897,000 after purchasing an additional 12,247 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Penumbra in the first quarter valued at $63,731,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Up 3.4%

Penumbra stock opened at $279.73 on Wednesday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $310.00. The firm’s 50-day moving average is $256.09 and its 200-day moving average is $258.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The company has a market cap of $10.95 billion, a P/E ratio of 74.40, a PEG ratio of 2.10 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. During the same quarter last year, the company posted $0.85 earnings per share. Penumbra’s revenue was up 17.8% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. On average, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEN has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $326.00 price objective on shares of Penumbra in a report on Monday, October 27th. Evercore ISI reissued an “outperform” rating and issued a $286.00 target price on shares of Penumbra in a research report on Thursday, November 6th. Morgan Stanley raised their price objective on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $305.69.

Insider Buying and Selling

In other news, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $253.93, for a total transaction of $47,230.98. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,900 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $254.53, for a total transaction of $4,047,027.00. Following the transaction, the chief executive officer owned 170,280 shares of the company’s stock, valued at $43,341,368.40. This represents a 8.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 33,830 shares of company stock worth $8,848,425. 5.00% of the stock is owned by company insiders.

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.