PNC Financial Services Group Inc. Sells 86 Shares of Penumbra, Inc. (PEN)
PNC Financial Services Group Inc. cut its stake in Penumbra, Inc. (NYSE:PEN) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,786 shares of the company’s stock after selling 86 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Penumbra were worth $1,211,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Penumbra by 811.1% in the second quarter. First Trust Advisors LP now owns 22,113 shares of the company’s stock valued at $1,940,000 after purchasing an additional 19,686 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Penumbra in the second quarter valued at $26,824,000. Eagle Asset Management Inc. grew its position in shares of Penumbra by 168.7% in the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock valued at $44,833,000 after purchasing an additional 320,794 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Penumbra by 9.5% in the first quarter. Vanguard Group Inc. now owns 2,118,227 shares of the company’s stock valued at $176,767,000 after purchasing an additional 183,706 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Penumbra in the first quarter valued at $6,960,000. Institutional investors own 70.93% of the company’s stock.
In other Penumbra news, Director Thomas Wilder sold 345 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $86.10, for a total transaction of $29,704.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert D. Evans sold 20,017 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $90.03, for a total value of $1,802,130.51. Following the sale, the executive vice president now directly owns 11,704 shares in the company, valued at $1,053,711.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,743 shares of company stock worth $6,666,059. Insiders own 13.50% of the company’s stock.
Penumbra, Inc. (PEN) opened at 94.20 on Friday. The stock has a 50 day moving average price of $88.14 and a 200 day moving average price of $85.50. Penumbra, Inc. has a 12 month low of $56.05 and a 12 month high of $94.20. The stock has a market capitalization of $3.18 billion, a PE ratio of 636.49 and a beta of 0.09.
Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The company had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. During the same period last year, the firm earned $0.01 EPS. Penumbra’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra, Inc. will post ($0.21) earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on PEN. Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. BidaskClub cut Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target (up from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $96.00 price target on shares of Penumbra in a research report on Friday, June 16th.
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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