Principal Financial Group Inc. Purchases 25,545 Shares of Penumbra, Inc. (NYSE:PEN)

Principal Financial Group Inc. boosted its position in Penumbra, Inc. (NYSE:PENGet Rating) by 21.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 144,967 shares of the company’s stock after buying an additional 25,545 shares during the period. Principal Financial Group Inc.’s holdings in Penumbra were worth $18,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PEN. WASHINGTON TRUST Co bought a new stake in Penumbra in the 2nd quarter valued at $31,000. NuWave Investment Management LLC boosted its stake in Penumbra by 4,607.7% in the 2nd quarter. NuWave Investment Management LLC now owns 612 shares of the company’s stock valued at $76,000 after purchasing an additional 599 shares during the period. Covestor Ltd boosted its stake in Penumbra by 190.8% in the 1st quarter. Covestor Ltd now owns 442 shares of the company’s stock valued at $98,000 after purchasing an additional 290 shares during the period. Altfest L J & Co. Inc. bought a new stake in Penumbra in the 2nd quarter valued at $200,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Penumbra during the 1st quarter valued at $207,000. 81.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 5,800 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $175.17, for a total value of $1,015,986.00. Following the completion of the transaction, the executive vice president now owns 55,496 shares of the company’s stock, valued at approximately $9,721,234.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 8,924 shares of company stock valued at $1,620,945 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Penumbra Stock Performance

Shares of PEN opened at $192.72 on Wednesday. Penumbra, Inc. has a 12-month low of $114.86 and a 12-month high of $290.36. The business has a 50-day simple moving average of $183.63 and a two-hundred day simple moving average of $158.78. The company has a quick ratio of 2.92, a current ratio of 5.23 and a debt-to-equity ratio of 0.03.

Penumbra (NYSE:PENGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Penumbra had a positive return on equity of 0.45% and a negative net margin of 3.68%. The business had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $212.41 million. As a group, analysts predict that Penumbra, Inc. will post 0.14 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC cut their target price on Penumbra from $244.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Jefferies Financial Group assumed coverage on Penumbra in a research report on Wednesday, October 12th. They set a “buy” rating and a $230.00 target price for the company. Citigroup upgraded Penumbra from a “neutral” rating to a “buy” rating and cut their target price for the company from $217.00 to $212.00 in a research report on Friday, November 4th. Royal Bank of Canada upped their target price on Penumbra from $195.00 to $215.00 in a research report on Monday, November 14th. Finally, Wells Fargo & Company cut their target price on Penumbra from $260.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and an average price target of $220.45.

Penumbra Profile

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Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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