Eagle Asset Management Inc. lowered its stake in shares of Penumbra Inc (NYSE:PEN) by 46.3% in the third quarter, HoldingsChannel.com reports. The firm owned 225,268 shares of the company’s stock after selling 194,216 shares during the period. Eagle Asset Management Inc.’s holdings in Penumbra were worth $33,722,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Advisors Preferred LLC lifted its holdings in Penumbra by 40.1% during the 2nd quarter. Advisors Preferred LLC now owns 1,220 shares of the company’s stock worth $169,000 after buying an additional 349 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in Penumbra by 20.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock worth $354,000 after buying an additional 420 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Penumbra by 17.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,230 shares of the company’s stock worth $446,000 after buying an additional 489 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Penumbra by 15.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,558 shares of the company’s stock worth $630,000 after buying an additional 600 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in Penumbra by 35.0% during the 2nd quarter. Leavell Investment Management Inc. now owns 2,700 shares of the company’s stock worth $373,000 after buying an additional 700 shares in the last quarter. 74.16% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Harpreet Grewal sold 665 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $148.58, for a total value of $98,805.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Robert Pray sold 8,125 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $135.34, for a total transaction of $1,099,637.50. Following the completion of the sale, the insider now owns 1,578 shares in the company, valued at $213,566.52. The disclosure for this sale can be found here. Insiders sold a total of 24,018 shares of company stock worth $3,215,743 over the last 90 days. Company insiders own 10.70% of the company’s stock.
Penumbra (NYSE:PEN) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.14. Penumbra had a net margin of 2.15% and a return on equity of 4.21%. The business had revenue of $111.80 million for the quarter, compared to analyst estimates of $103.59 million. During the same period last year, the business earned $0.01 EPS. The company’s revenue was up 33.3% on a year-over-year basis. Sell-side analysts anticipate that Penumbra Inc will post 0.47 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on PEN shares. ValuEngine upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Zacks Investment Research lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. Royal Bank of Canada started coverage on shares of Penumbra in a report on Monday, October 8th. They set an “outperform” rating and a $174.00 target price on the stock. Canaccord Genuity reiterated a “buy” rating and set a $175.00 target price on shares of Penumbra in a report on Monday, August 20th. Finally, Bank of America reiterated a “buy” rating and set a $36.00 target price on shares of Penumbra in a report on Monday, October 29th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $145.57.
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Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
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