Alliancebernstein L.P. cut its stake in shares of Penumbra Inc (NYSE:PEN) by 10.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,103,961 shares of the company’s stock after selling 133,704 shares during the period. Alliancebernstein L.P. owned approximately 3.28% of Penumbra worth $96,873,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PEN. Teachers Advisors LLC raised its stake in Penumbra by 2.5% during the 4th quarter. Teachers Advisors LLC now owns 42,130 shares of the company’s stock valued at $2,688,000 after acquiring an additional 1,040 shares during the last quarter. Nationwide Fund Advisors raised its stake in Penumbra by 4.1% during the 1st quarter. Nationwide Fund Advisors now owns 82,313 shares of the company’s stock valued at $6,869,000 after acquiring an additional 3,270 shares during the last quarter. Wells Fargo & Company MN raised its stake in Penumbra by 32.3% during the 1st quarter. Wells Fargo & Company MN now owns 30,587 shares of the company’s stock valued at $2,553,000 after acquiring an additional 7,471 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Penumbra by 14.3% during the 1st quarter. Bank of New York Mellon Corp now owns 147,849 shares of the company’s stock valued at $12,339,000 after acquiring an additional 18,454 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in Penumbra by 1.8% during the 1st quarter. Suntrust Banks Inc. now owns 3,922 shares of the company’s stock valued at $327,000 after acquiring an additional 71 shares during the last quarter. 70.93% of the stock is owned by hedge funds and other institutional investors.
Penumbra Inc (NYSE PEN) opened at 87.80 on Tuesday. Penumbra Inc has a 52-week low of $56.05 and a 52-week high of $91.00. The firm has a market cap of $2.97 billion, a PE ratio of 593.24 and a beta of 0.09. The firm’s 50-day moving average price is $84.81 and its 200 day moving average price is $83.99.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The company had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. Penumbra had a negative return on equity of 1.67% and a negative net margin of 1.93%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts anticipate that Penumbra Inc will post ($0.21) earnings per share for the current year.
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In other news, insider Daniel Donen Davis sold 32,000 shares of Penumbra stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.42, for a total transaction of $2,541,440.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 345 shares of Penumbra stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total value of $29,704.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,845 shares of company stock worth $3,794,570. Corporate insiders own 22.00% of the company’s stock.
PEN has been the subject of several analyst reports. BidaskClub raised Penumbra from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. BMO Capital Markets reiterated a “buy” rating and set a $96.00 target price on shares of Penumbra in a research report on Friday, June 16th. Canaccord Genuity reiterated a “buy” rating and set a $94.00 target price on shares of Penumbra in a research report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th.
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.
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