Principal Financial Group Inc. Has $17.62 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Principal Financial Group Inc. trimmed its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 29.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,678 shares of the company's stock after selling 38,767 shares during the period. Principal Financial Group Inc. owned approximately 0.24% of Penumbra worth $17,620,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. True Wealth Design LLC bought a new position in Penumbra in the 3rd quarter worth approximately $26,000. GAMMA Investing LLC raised its position in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company's stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Park Place Capital Corp raised its position in shares of Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company's stock worth $70,000 after acquiring an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company's stock valued at $70,000 after acquiring an additional 369 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEN has been the subject of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a report on Thursday, October 31st. Oppenheimer assumed coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price target for the company. Piper Sandler raised their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. Citigroup upped their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company upgraded Penumbra from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Penumbra presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.00.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the sale, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the transaction, the chief executive officer now directly owns 867,582 shares in the company, valued at approximately $177,472,573.92. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,418 shares of company stock valued at $11,303,723 in the last quarter. 5.00% of the stock is currently owned by insiders.

Penumbra Stock Performance

Shares of PEN stock traded down $0.69 on Friday, reaching $239.85. The stock had a trading volume of 294,374 shares, compared to its average volume of 375,315. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 278.90, a P/E/G ratio of 2.47 and a beta of 0.51. The firm's 50-day moving average is $235.50 and its two-hundred day moving average is $205.30. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the prior year, the company earned $0.67 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts expect that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

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.