Carret Asset Management LLC Has $41.463 Million Position in Penumbra Inc (PEN)

Carret Asset Management LLC cut its stake in shares of Penumbra Inc (NYSE:PEN) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 496,861 shares of the company’s stock after selling 9,100 shares during the period. Penumbra accounts for about 7.4% of Carret Asset Management LLC’s holdings, making the stock its largest position. Carret Asset Management LLC owned about 1.56% of Penumbra worth $41,463,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in shares of Penumbra by 2.2% in the first quarter. Mutual of America Capital Management LLC now owns 23,088 shares of the company’s stock valued at $1,927,000 after buying an additional 500 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in shares of Penumbra by 27.9% in the first quarter. Pioneer Investment Management Inc. now owns 86,502 shares of the company’s stock valued at $7,219,000 after buying an additional 18,873 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Penumbra by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 36,753 shares of the company’s stock valued at $3,067,000 after buying an additional 360 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Penumbra during the first quarter valued at about $15,865,000. Finally, TD Asset Management Inc. purchased a new stake in shares of Penumbra during the first quarter valued at about $588,000. Institutional investors own 57.64% of the company’s stock.

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

Shares of Penumbra Inc (NYSE:PEN) traded down 0.12% during midday trading on Friday, reaching $81.80. 116,934 shares of the company traded hands. Penumbra Inc has a 12-month low of $49.83 and a 12-month high of $90.00. The firm has a market capitalization of $2.75 billion, a PE ratio of 293.19 and a beta of 0.15. The company has a 50-day moving average of $84.41 and a 200 day moving average of $74.38.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. Penumbra had a return on equity of 0.61% and a net margin of 0.61%. The firm had revenue of $73.21 million during the quarter, compared to the consensus estimate of $71.08 million. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities analysts forecast that Penumbra Inc will post ($0.13) earnings per share for the current year.

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Several equities research analysts recently issued reports on PEN shares. Zacks Investment Research downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 24th. Canaccord Genuity reiterated a “buy” rating and issued a $91.00 target price on shares of Penumbra in a research note on Monday, March 27th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $86.00 target price on shares of Penumbra in a research note on Tuesday, April 11th.

In other Penumbra news, EVP Robert D. Evans sold 10,000 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $85.24, for a total value of $852,400.00. Following the completion of the sale, the executive vice president now directly owns 12,075 shares of the company’s stock, valued at approximately $1,029,273. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.00% of the company’s stock.

Penumbra Company Profile

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.

12 Month Chart for NYSE:PEN

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