Deutsche Bank AG Lowers Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Deutsche Bank AG lowered its stake in shares of Penumbra, Inc. (NYSE:PEN) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,223 shares of the company’s stock after selling 2,384 shares during the quarter. Deutsche Bank AG’s holdings in Penumbra were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PEN. UMB Bank n.a. grew its position in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Penumbra in the fourth quarter valued at $56,000. Huntington National Bank increased its stake in shares of Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. increased its position in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after acquiring an additional 75 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Performance

Shares of PEN opened at $268.72 on Friday. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The company has a market capitalization of $10.41 billion, a PE ratio of 790.35, a PEG ratio of 2.83 and a beta of 0.53. The company’s 50 day moving average price is $279.68 and its 200 day moving average price is $264.95.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter last year, the firm earned $0.41 EPS. Penumbra’s revenue for the quarter was up 16.3% on a year-over-year basis. Research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In other news, Director Thomas Wilder sold 360 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now directly owns 4,533 shares of the company’s stock, valued at $1,199,341.14. The trade was a 7.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $300.01, for a total value of $180,006.00. Following the completion of the transaction, the executive vice president now directly owns 66,159 shares of the company’s stock, valued at $19,848,361.59. This represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,696 shares of company stock worth $50,207,745 in the last ninety days. 4.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEN. BTIG Research reiterated a “buy” rating on shares of Penumbra in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group restated a “buy” rating and set a $330.00 price target (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus set a $318.00 target price on Penumbra and gave the company a “buy” rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $302.40.

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.