Penumbra, Inc. $PEN Shares Sold by Perceptive Advisors LLC

Perceptive Advisors LLC cut its stake in Penumbra, Inc. (NYSE:PEN) by 49.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,529 shares of the company’s stock after selling 110,018 shares during the period. Perceptive Advisors LLC owned 0.28% of Penumbra worth $34,365,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PEN. Artisan Partners Limited Partnership increased its position in Penumbra by 165.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after buying an additional 370,636 shares during the period. William Blair Investment Management LLC acquired a new stake in Penumbra in the fourth quarter worth $107,567,000. Holocene Advisors LP acquired a new stake in Penumbra in the third quarter worth $78,585,000. Man Group plc increased its position in Penumbra by 1,862.2% in the second quarter. Man Group plc now owns 206,461 shares of the company’s stock worth $52,984,000 after buying an additional 195,939 shares during the period. Finally, AQR Capital Management LLC increased its position in Penumbra by 139.4% in the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after buying an additional 192,734 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEN has been the topic of several analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. Citigroup dropped their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Finally, Evercore reissued an “outperform” rating and set a $335.00 price target on shares of Penumbra in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $361.33.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director directly owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

Penumbra Price Performance

Shares of PEN opened at $316.18 on Thursday. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 72.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock’s fifty day moving average is $324.93 and its 200-day moving average is $327.98.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The business had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the business posted $0.83 earnings per share. Equities analysts anticipate that Penumbra, Inc. will post 5.08 EPS for the current year.

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.