Principal Financial Group Inc. Has $25.58 Million Stock Holdings in Penumbra, Inc. $PEN

Principal Financial Group Inc. reduced its holdings in Penumbra, Inc. (NYSE:PEN) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,973 shares of the company’s stock after selling 26,485 shares during the period. Principal Financial Group Inc.’s holdings in Penumbra were worth $25,578,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Penumbra by 5.0% during the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock worth $990,760,000 after acquiring an additional 185,306 shares during the period. Geode Capital Management LLC boosted its holdings in Penumbra by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after purchasing an additional 17,772 shares during the period. Invesco Ltd. grew its position in Penumbra by 1,139.3% in the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock worth $162,571,000 after purchasing an additional 582,369 shares during the last quarter. Norges Bank acquired a new stake in Penumbra in the 2nd quarter worth $114,014,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Penumbra by 13.7% during the third quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after buying an additional 44,185 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Down 0.4%

Shares of NYSE:PEN opened at $340.79 on Friday. The company’s fifty day moving average is $324.15 and its 200-day moving average is $281.26. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a market capitalization of $13.35 billion, a PE ratio of 81.53, a P/E/G ratio of 2.10 and a beta of 0.82.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The business had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. Equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of recent research reports. BTIG Research downgraded Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 target price on the stock. in a research report on Thursday, January 15th. Canaccord Genuity Group cut Penumbra from a “buy” rating to a “hold” rating and boosted their price objective for the company from $359.00 to $374.00 in a research report on Tuesday, January 20th. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Needham & Company LLC cut Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and boosted their price target for the company from $350.00 to $374.00 in a report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penumbra currently has an average rating of “Hold” and a consensus price target of $358.00.

Insider Activity

In related news, Director Arani Bose sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the sale, the director directly owned 258,462 shares in the company, valued at $79,818,234.84. This represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total value of $58,151.04. Following the completion of the transaction, the director owned 8,230 shares of the company’s stock, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 33,772 shares of company stock worth $10,175,467. 4.20% of the stock is currently owned by insiders.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.