Geode Capital Management LLC Boosts Position in Penumbra, Inc. (NYSE:PEN)
Geode Capital Management LLC increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,932 shares of the company’s stock after buying an additional 13,788 shares during the period. Geode Capital Management LLC owned about 0.63% of Penumbra worth $16,684,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in PEN. State Board of Administration of Florida Retirement System boosted its stake in shares of Penumbra by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,245 shares of the company’s stock worth $845,000 after buying an additional 120 shares during the period. State Street Corp boosted its stake in shares of Penumbra by 9.4% in the fourth quarter. State Street Corp now owns 472,199 shares of the company’s stock worth $30,130,000 after buying an additional 40,596 shares during the period. Teachers Advisors LLC boosted its stake in shares of Penumbra by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 42,130 shares of the company’s stock worth $2,688,000 after buying an additional 1,040 shares during the period. Rathbone Brothers plc bought a new stake in shares of Penumbra during the first quarter worth $250,000. Finally, Simplex Trading LLC boosted its stake in shares of Penumbra by 11.5% in the first quarter. Simplex Trading LLC now owns 2,565 shares of the company’s stock worth $214,000 after buying an additional 265 shares during the period. 68.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Penumbra, Inc. (NYSE:PEN) opened at 85.80 on Wednesday. The stock has a market capitalization of $2.89 billion, a PE ratio of 307.53 and a beta of 0.15. Penumbra, Inc. has a 12 month low of $56.05 and a 12 month high of $91.00. The company has a 50-day moving average of $86.23 and a 200-day moving average of $80.88.
Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. The business had revenue of $73.21 million during the quarter, compared to the consensus estimate of $71.08 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts expect that Penumbra, Inc. will post ($0.13) EPS for the current fiscal year.
PEN has been the subject of a number of research reports. Canaccord Genuity reissued a “buy” rating and issued a $91.00 price target on shares of Penumbra in a research report on Monday, March 27th. BMO Capital Markets reissued a “buy” rating and issued a $86.00 price target on shares of Penumbra in a research report on Tuesday, April 11th. Zacks Investment Research cut shares of Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd.
In other news, EVP Robert D. Evans sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $85.24, for a total value of $852,400.00. Following the transaction, the executive vice president now directly owns 12,075 shares in the company, valued at approximately $1,029,273. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 22.00% of the company’s stock.
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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