Calamos Advisors LLC Sells 10,089 Shares of Penumbra, Inc. $PEN

Calamos Advisors LLC lessened its stake in Penumbra, Inc. (NYSE:PEN) by 78.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,794 shares of the company’s stock after selling 10,089 shares during the quarter. Calamos Advisors LLC’s holdings in Penumbra were worth $717,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey raised its position in shares of Penumbra by 7.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,355 shares of the company’s stock valued at $3,684,000 after buying an additional 1,034 shares in the last quarter. Geode Capital Management LLC increased its stake in Penumbra by 2.6% in the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after acquiring an additional 17,772 shares during the last quarter. denkapparat Operations GmbH bought a new position in Penumbra in the second quarter valued at approximately $354,000. Future Fund LLC acquired a new position in Penumbra during the second quarter valued at approximately $1,020,000. Finally, Acadian Asset Management LLC bought a new stake in Penumbra during the second quarter worth $16,568,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Performance

Penumbra stock opened at $280.33 on Friday. The business has a 50 day moving average of $256.27 and a 200-day moving average of $258.21. The company has a market capitalization of $10.98 billion, a P/E ratio of 74.56, a P/E/G ratio of 2.10 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04.

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

Analysts Set New Price Targets

PEN has been the topic of several recent analyst reports. William Blair upgraded Penumbra to a “strong-buy” rating in a research note on Friday, July 18th. UBS Group set a $335.00 price objective on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on Penumbra from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Wells Fargo & Company set a $290.00 price target on shares of Penumbra in a research note on Wednesday, October 1st. Finally, BTIG Research reiterated a “buy” rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average target price of $305.69.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $248.61, for a total value of $46,241.46. Following the sale, the director owned 8,702 shares of the company’s stock, valued at $2,163,404.22. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total value of $162,348.00. Following the transaction, the executive vice president directly owned 64,857 shares of the company’s stock, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,430 shares of company stock worth $9,008,613 in the last three months. 4.20% of the stock is currently 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.