American Century Companies Inc. Sells 6,758 Shares of Penumbra, Inc. (NYSE:PEN)

American Century Companies Inc. lessened its holdings in Penumbra, Inc. (NYSE:PEN) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,339 shares of the company’s stock after selling 6,758 shares during the quarter. American Century Companies Inc. owned 0.42% of Penumbra worth $29,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Champlain Investment Partners LLC grew its position in Penumbra by 131.8% during the first quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after buying an additional 616,700 shares during the period. Norges Bank purchased a new position in Penumbra in the fourth quarter valued at about $85,222,000. Braidwell LP grew its position in shares of Penumbra by 133.7% during the 4th quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after acquiring an additional 127,477 shares during the period. William Blair Investment Management LLC increased its stake in shares of Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock worth $186,066,000 after purchasing an additional 90,444 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Penumbra by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,658,103 shares of the company’s stock worth $920,159,000 after purchasing an additional 58,184 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the completion of the transaction, the executive vice president now owns 62,288 shares of the company’s stock, valued at $11,162,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the sale, the director now owns 1,005 shares in the company, valued at approximately $180,889.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at $11,162,009.60. The disclosure for this sale can be found here. Insiders have sold a total of 19,372 shares of company stock valued at $3,888,852 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $195.58 on Thursday. The company’s 50 day simple moving average is $190.01 and its two-hundred day simple moving average is $199.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The stock has a market capitalization of $7.60 billion, a PE ratio of 82.52, a P/E/G ratio of 2.24 and a beta of 0.54.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that Penumbra, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Royal Bank of Canada cut their price target on Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. BTIG Research upped their price objective on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 target price (down previously from $230.00) on shares of Penumbra in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.00.

About Penumbra

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.