Allianz Asset Management GmbH Has $633,000 Position in Penumbra, Inc. $PEN

Allianz Asset Management GmbH reduced its stake in shares of Penumbra, Inc. (NYSE:PEN) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,468 shares of the company’s stock after selling 332 shares during the quarter. Allianz Asset Management GmbH’s holdings in Penumbra were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. New York State Teachers Retirement System grew its position in shares of Penumbra by 0.3% during the 2nd quarter. New York State Teachers Retirement System now owns 38,154 shares of the company’s stock worth $9,791,000 after buying an additional 100 shares during the period. MGO One Seven LLC raised its position in shares of Penumbra by 47.1% during the second quarter. MGO One Seven LLC now owns 1,431 shares of the company’s stock worth $367,000 after purchasing an additional 458 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Penumbra by 0.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock worth $80,726,000 after purchasing an additional 984 shares during the period. CWM LLC raised its position in shares of Penumbra by 41.0% during the second quarter. CWM LLC now owns 5,742 shares of the company’s stock worth $1,474,000 after purchasing an additional 1,670 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Penumbra by 6,600.0% during the second quarter. IFP Advisors Inc now owns 670 shares of the company’s stock worth $172,000 after purchasing an additional 660 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $248.61, for a total value of $46,241.46. Following the completion of the sale, the director directly owned 8,702 shares of the company’s stock, valued at $2,163,404.22. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 15,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total value of $4,260,470.00. Following the completion of the sale, the chief executive officer directly owned 182,460 shares of the company’s stock, valued at approximately $49,200,339. The trade was a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,460 shares of company stock valued at $16,322,614. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PEN. Royal Bank Of Canada dropped their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Wednesday, October 8th. Wells Fargo & Company set a $290.00 price target on Penumbra in a research report on Wednesday, October 1st. Wall Street Zen upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Finally, BTIG Research reiterated a “buy” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus target price of $305.94.

Penumbra Stock Down 1.7%

PEN stock opened at $248.70 on Tuesday. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $260.43 and a two-hundred day moving average price of $260.72. The company has a market cap of $9.70 billion, a price-to-earnings ratio of 66.14, a P/E/G ratio of 2.28 and a beta of 0.41. Penumbra, Inc. has a twelve month low of $205.80 and a twelve month high of $310.00.

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

Penumbra 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.