Goldman Sachs Group Inc. Increases Holdings in Penumbra, Inc. $PEN

Goldman Sachs Group Inc. raised its stake in shares of Penumbra, Inc. (NYSE:PEN) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,154 shares of the company’s stock after buying an additional 19,244 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Penumbra were worth $98,917,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PEN. 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 valued at $26,000 after buying an additional 82 shares during the last quarter. Morse Asset Management Inc purchased a new position in Penumbra during the fourth quarter valued at $39,000. Rothschild Investment LLC purchased a new position in Penumbra during the third quarter valued at $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 valued at $55,000 after buying an additional 38 shares during the last quarter. 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 valued at $61,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.3%

Shares of PEN stock opened at $320.94 on Wednesday. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $326.26 and its 200 day moving average is $326.91. The stock has a market capitalization of $12.62 billion, a P/E ratio of 73.95, a P/E/G ratio of 1.96 and a beta of 0.71.

Penumbra (NYSE:PEN) last issued its earnings results 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 company had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the prior year, the business posted $0.83 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Research analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Thursday, April 2nd. The stock was 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. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Evercore reissued an “outperform” rating and issued a $335.00 target price 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $361.33.

Penumbra Company 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.