Pallas Capital Advisors LLC Sells 160 Shares of Penumbra, Inc. $PEN

Pallas Capital Advisors LLC cut its holdings in Penumbra, Inc. (NYSE:PEN) by 9.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,552 shares of the company’s stock after selling 160 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Penumbra were worth $398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of Penumbra by 16.4% in the 1st quarter. Fifth Third Bancorp now owns 404 shares of the company’s stock valued at $108,000 after buying an additional 57 shares during the period. First Horizon Advisors Inc. lifted its position in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock worth $28,000 after buying an additional 85 shares in the last quarter. Synergy Investment Management LLC bought a new stake in Penumbra during the 1st quarter worth about $27,000. State of Michigan Retirement System raised its holdings in shares of Penumbra by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 9,214 shares of the company’s stock valued at $2,464,000 after purchasing an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Penumbra by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company’s stock valued at $2,888,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Down 0.7%

PEN opened at $255.90 on Friday. Penumbra, Inc. has a 1-year low of $185.13 and a 1-year high of $310.00. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.98 billion, a P/E ratio of 68.06, a price-to-earnings-growth ratio of 2.30 and a beta of 0.45. The company has a fifty day moving average price of $253.59 and a two-hundred day moving average price of $264.06.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEN shares. William Blair raised shares of Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Robert W. Baird upped their target price on shares of Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on shares of Penumbra from $315.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Royal Bank Of Canada dropped 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. Finally, Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $302.93.

Insider Buying and Selling at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total value of $500,000.00. Following the sale, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This represents a 13.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the sale, the executive vice president owned 66,057 shares in the company, valued at approximately $16,692,603.90. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,113 shares of company stock valued at $27,919,346 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

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.