Fifth Third Bancorp Sells 72 Shares of Penumbra, Inc. $PEN

Fifth Third Bancorp trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332 shares of the company’s stock after selling 72 shares during the period. Fifth Third Bancorp’s holdings in Penumbra were worth $85,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Synergy Investment Management LLC bought a new stake in Penumbra during the first quarter valued at about $27,000. First Horizon Advisors Inc. lifted its stake in shares of Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock valued at $28,000 after buying an additional 85 shares during the period. AlphaQuest LLC bought a new stake in shares of Penumbra in the first quarter valued at about $66,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Penumbra in the first quarter valued at about $76,000. Finally, Versant Capital Management Inc lifted its stake in shares of Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock valued at $82,000 after buying an additional 277 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Down 1.5%

Shares of PEN opened at $249.48 on Thursday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 66.35, a P/E/G ratio of 2.28 and a beta of 0.41. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $187.84 and a 12 month high of $310.00. The company has a 50-day moving average price of $256.72 and a two-hundred day moving average price of $263.26.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PEN shares. Wall Street Zen cut shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Royal Bank Of Canada reduced their target price on shares of Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Citigroup reduced their target price on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Wells Fargo & Company set a $290.00 target price on shares of Penumbra in a research note on Wednesday. Finally, Evercore ISI began coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They issued an “outperform” rating and a $300.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.93.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $272.19, for a total value of $50,627.34. Following the completion of the sale, the director owned 8,888 shares of the company’s stock, valued at $2,419,224.72. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the sale, the director directly owned 558 shares of the company’s stock, valued at approximately $139,862.70. This represents a 95.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,623 shares of company stock valued at $23,741,200. Insiders own 4.20% of the company’s stock.

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.