KBC Group NV Reduces Holdings in Penumbra, Inc. $PEN

KBC Group NV trimmed its stake in shares of Penumbra, Inc. (NYSE:PEN) by 39.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 971 shares of the company’s stock after selling 632 shares during the quarter. KBC Group NV’s holdings in Penumbra were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Penumbra by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock valued at $982,825,000 after purchasing an additional 24,727 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Penumbra by 437.0% in the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock worth $188,159,000 after buying an additional 572,606 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Penumbra by 0.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock valued at $80,726,000 after buying an additional 984 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Penumbra by 4.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock valued at $75,897,000 after buying an additional 12,247 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Penumbra in the 1st quarter worth $63,731,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was 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. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $227.58, for a total transaction of $42,329.88. Following the completion of the sale, the director directly owned 8,516 shares in the company, valued at $1,938,071.28. This represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,530 shares of company stock worth $4,961,586 in the last ninety days. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Wells Fargo & Company started coverage on Penumbra in a report on Tuesday. They set an “underweight” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $326.00 price objective on shares of Penumbra in a report on Monday, October 27th. Evercore ISI reiterated an “outperform” rating and issued a $286.00 price objective on shares of Penumbra in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average target price of $305.69.

Penumbra Stock Performance

Penumbra stock opened at $278.31 on Wednesday. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $310.00. The stock’s 50 day simple moving average is $255.96 and its two-hundred day simple moving average is $257.48. 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 stock has a market cap of $10.90 billion, a price-to-earnings ratio of 74.02, a PEG ratio of 2.10 and a beta of 0.51.

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

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.