Federated Investors Inc. PA Has $46.62 Million Holdings in Penumbra Inc (PEN)

Federated Investors Inc. PA lowered its stake in shares of Penumbra Inc (NYSE:PEN) by 28.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,400 shares of the company’s stock after selling 124,810 shares during the period. Federated Investors Inc. PA’s holdings in Penumbra were worth $46,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Penumbra during the second quarter worth $1,530,000. Cubist Systematic Strategies LLC lifted its holdings in Penumbra by 792.7% during the second quarter. Cubist Systematic Strategies LLC now owns 52,520 shares of the company’s stock worth $7,256,000 after buying an additional 46,637 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Penumbra by 17.8% during the second 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 during the period. First Trust Advisors LP lifted its holdings in Penumbra by 23.8% during the second quarter. First Trust Advisors LP now owns 66,419 shares of the company’s stock worth $9,176,000 after buying an additional 12,755 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in Penumbra during the second quarter worth $4,683,000. Institutional investors own 72.37% of the company’s stock.

Shares of PEN stock opened at $125.40 on Friday. The firm has a market cap of $4.36 billion, a PE ratio of -12,540.00, a price-to-earnings-growth ratio of 13.30 and a beta of 0.40. Penumbra Inc has a 12-month low of $82.55 and a 12-month high of $167.35.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. The business had revenue of $111.80 million for the quarter, compared to the consensus estimate of $103.59 million. Penumbra had a return on equity of 4.21% and a net margin of 2.15%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. Equities research analysts anticipate that Penumbra Inc will post 0.47 EPS for the current year.

In other news, EVP Johanna Roberts sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $150.00, for a total transaction of $150,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harpreet Grewal sold 665 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $148.58, for a total value of $98,805.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,865 shares of company stock worth $419,434. Insiders own 10.70% of the company’s stock.

A number of analysts have weighed in on PEN shares. Zacks Investment Research lowered Penumbra from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. Bank of America restated a “buy” rating and set a $36.00 target price on shares of Penumbra in a report on Monday, October 29th. ValuEngine upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. BMO Capital Markets upped their target price on Penumbra from $150.00 to $152.00 and gave the stock a “market perform” rating in a report on Tuesday, November 6th. Finally, Royal Bank of Canada assumed coverage on Penumbra in a research report on Monday, October 8th. They set an “outperform” rating and a $174.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Penumbra has a consensus rating of “Buy” and a consensus target price of $145.57.

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About Penumbra

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.

Further Reading: When is a capital gain realized?

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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