TD Asset Management Inc. Decreases Stake in Penumbra, Inc. (PEN)
TD Asset Management Inc. lowered its stake in Penumbra, Inc. (NYSE:PEN) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,851 shares of the company’s stock after selling 200 shares during the period. TD Asset Management Inc.’s holdings in Penumbra were worth $601,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its position in Penumbra by 5.0% in the first quarter. FMR LLC now owns 4,985,173 shares of the company’s stock worth $416,013,000 after buying an additional 238,594 shares during the period. Vanguard Group Inc. boosted its position in Penumbra by 9.5% in the first quarter. Vanguard Group Inc. now owns 2,118,227 shares of the company’s stock worth $176,767,000 after buying an additional 183,706 shares during the period. BlackRock Inc. boosted its position in Penumbra by 82,715.0% in the first quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock worth $144,643,000 after buying an additional 1,731,225 shares during the period. State Street Corp boosted its position in Penumbra by 8.5% in the first quarter. State Street Corp now owns 512,470 shares of the company’s stock worth $42,764,000 after buying an additional 40,271 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in Penumbra by 24.3% in the first quarter. Champlain Investment Partners LLC now owns 384,285 shares of the company’s stock worth $32,069,000 after buying an additional 75,055 shares during the period. 70.93% of the stock is owned by hedge funds and other institutional investors.
Penumbra, Inc. (PEN) opened at 85.00 on Thursday. The firm has a market capitalization of $2.87 billion, a PE ratio of 574.32 and a beta of 0.10. Penumbra, Inc. has a 12-month low of $56.05 and a 12-month high of $91.00. The stock has a 50 day moving average price of $84.80 and a 200-day moving average price of $83.20.
Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. On average, equities research analysts forecast that Penumbra, Inc. will post ($0.21) EPS for the current year.
A number of equities analysts have recently weighed in on PEN shares. BidaskClub raised Penumbra from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price target on shares of Penumbra in a report on Friday, June 16th. Canaccord Genuity reissued a “buy” rating and issued a $94.00 price target on shares of Penumbra in a report on Tuesday, June 13th. Finally, Zacks Investment Research raised Penumbra from a “sell” rating to a “hold” rating in a report on Wednesday.
In related news, insider Daniel Donen Davis sold 32,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total value of $2,541,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harpreet Grewal sold 4,500 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $82.65, for a total transaction of $371,925.00. The disclosure for this sale can be found here. Insiders sold a total of 46,845 shares of company stock worth $3,794,570 over the last ninety days. 22.00% of the stock is currently owned by insiders.
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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