Los Angeles Capital Management LLC Trims Position in Penumbra, Inc. $PEN

Los Angeles Capital Management LLC decreased its position in shares of Penumbra, Inc. (NYSE:PEN) by 68.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 32,642 shares of the company’s stock after selling 72,239 shares during the period. Los Angeles Capital Management LLC owned 0.08% of Penumbra worth $10,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC raised its stake in Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Morse Asset Management Inc purchased a new position in Penumbra during the fourth quarter worth approximately $39,000. Rothschild Investment LLC purchased a new position in Penumbra during the third quarter worth approximately $40,000. Farther Finance Advisors LLC raised its stake in 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 during the period. Finally, Allworth Financial LP raised its stake in 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 during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of the 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 completion of the sale, the director owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEN. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup cut their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Evercore reaffirmed an “outperform” rating and set a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Finally, UBS Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Three equities research 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.

Penumbra Price Performance

Penumbra stock opened at $320.28 on Tuesday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The firm has a fifty day moving average of $326.54 and a 200-day moving average of $326.64. The firm has a market capitalization of $12.60 billion, a P/E ratio of 73.80, a PEG ratio of 1.96 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same period in the previous year, the company earned $0.83 EPS. Penumbra’s revenue was up 15.6% on a year-over-year basis. As a group, analysts predict 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.