Wells Fargo & Company MN grew its stake in shares of Penumbra, Inc. (NYSE:PEN) by 20.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,930 shares of the company’s stock after acquiring an additional 6,343 shares during the period. Wells Fargo & Company MN owned 0.11% of Penumbra worth $3,241,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Penumbra by 10.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock worth $102,000 after acquiring an additional 114 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Penumbra during the first quarter worth approximately $223,000. Prudential Financial Inc. acquired a new stake in Penumbra during the second quarter worth approximately $252,000. Amalgamated Bank acquired a new stake in Penumbra during the first quarter worth approximately $274,000. Finally, BNP Paribas Arbitrage SA lifted its position in Penumbra by 587.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,644 shares of the company’s stock worth $320,000 after acquiring an additional 3,114 shares during the last quarter. Hedge funds and other institutional investors own 70.93% of the company’s stock.
Shares of Penumbra, Inc. (PEN) opened at 94.95 on Thursday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 641.55 and a beta of 0.09. The firm’s 50-day moving average is $89.86 and its 200 day moving average is $86.21. Penumbra, Inc. has a 12 month low of $56.05 and a 12 month high of $95.60.
Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $80.60 million during the quarter, compared to analyst estimates of $77.16 million. Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. Penumbra’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. On average, equities research analysts anticipate that Penumbra, Inc. will post ($0.21) EPS for the current year.
Several equities research analysts have issued reports on the stock. BMO Capital Markets restated a “buy” rating and set a $96.00 price objective on shares of Penumbra in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Canaccord Genuity restated a “buy” rating and set a $100.00 price objective (up from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th.
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In other news, insider Daniel Donen Davis sold 32,000 shares of Penumbra stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total value of $2,541,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harpreet Grewal sold 500 shares of Penumbra stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $92.90, for a total transaction of $46,450.00. The disclosure for this sale can be found here. Insiders sold 78,898 shares of company stock valued at $6,682,805 over the last quarter. Company insiders own 13.50% of the company’s stock.
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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