Stephens Investment Management Group LLC increased its position in Penumbra Inc (NYSE:PEN) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 298,501 shares of the company’s stock after purchasing an additional 1,947 shares during the period. Stephens Investment Management Group LLC owned about 0.86% of Penumbra worth $47,760,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Botty Investors LLC acquired a new position in Penumbra in the 1st quarter worth approximately $29,000. Manchester Capital Management LLC acquired a new position in Penumbra in the 1st quarter worth approximately $30,000. Gemmer Asset Management LLC boosted its stake in Penumbra by 1,005.1% in the 1st quarter. Gemmer Asset Management LLC now owns 431 shares of the company’s stock worth $63,000 after purchasing an additional 392 shares during the period. Machina Capital S.A.S. acquired a new position in Penumbra in the 2nd quarter worth approximately $155,000. Finally, CENTRAL TRUST Co acquired a new position in Penumbra in the 2nd quarter worth approximately $171,000. 90.29% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. Royal Bank of Canada set a $174.00 price objective on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Penumbra from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $170.00 in a research note on Thursday, May 30th. William Blair assumed coverage on shares of Penumbra in a research note on Tuesday, May 21st. They set an “outperform” rating for the company. Finally, ValuEngine lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $167.14.
Shares of NYSE:PEN traded down $3.11 during trading on Thursday, reaching $145.39. 4,767 shares of the company traded hands, compared to its average volume of 525,520. The company has a fifty day simple moving average of $165.79. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 286.73, a P/E/G ratio of 8.52 and a beta of 0.65. Penumbra Inc has a 1-year low of $110.84 and a 1-year high of $185.70. The company has a current ratio of 6.23, a quick ratio of 4.33 and a debt-to-equity ratio of 0.10.
Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $134.20 million during the quarter, compared to analyst estimates of $130.67 million. Penumbra had a net margin of 3.03% and a return on equity of 6.80%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, research analysts anticipate that Penumbra Inc will post 0.9 EPS for the current fiscal year.
In other news, CEO Adam Elsesser sold 8,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $149.24, for a total transaction of $1,193,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sridhar Kosaraju sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $159.96, for a total transaction of $799,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,412 shares of company stock worth $6,318,718 in the last 90 days. 9.60% of the stock is owned by insiders.
Penumbra Company Profile
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
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