Hussman Strategic Advisors Inc. Trims Stock Holdings in Penumbra, Inc. $PEN

Hussman Strategic Advisors Inc. decreased its stake in Penumbra, Inc. (NYSE:PEN) by 66.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,200 shares of the company’s stock after selling 8,400 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Penumbra were worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PEN. Mather Group LLC. purchased a new stake in shares of Penumbra during the third quarter worth about $25,000. Rothschild Investment LLC purchased a new stake in shares of Penumbra during the third quarter worth about $40,000. Covestor Ltd grew its position in shares of Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after purchasing an additional 62 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Penumbra by 27.1% during the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after purchasing an additional 38 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Penumbra by 36.2% during the third quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of PEN stock opened at $325.61 on Monday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 6.64. The firm has a market capitalization of $12.81 billion, a P/E ratio of 72.04, a P/E/G ratio of 1.99 and a beta of 0.74. The stock has a 50 day moving average price of $334.12 and a 200 day moving average price of $314.50.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The business had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. During the same period in the prior year, the business posted $0.97 earnings per share. Penumbra’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore restated an “outperform” rating and set a $360.00 price target on shares of Penumbra in a report on Wednesday, February 25th. Royal Bank Of Canada cut Penumbra from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $355.00 to $374.00 in a report on Tuesday, January 20th. Wall Street Zen cut Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Needham & Company LLC cut Penumbra from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Leerink Partners lowered Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $364.60.

Insider Buying and Selling

In other Penumbra news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

Penumbra Profile

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.