AGF Management Ltd. Makes New $3.14 Million Investment in Penumbra, Inc. $PEN

AGF Management Ltd. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,412 shares of the company’s stock, valued at approximately $3,144,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEN. Covestor Ltd grew its position in Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after acquiring an additional 62 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Quadrant Capital Group LLC increased its position in shares of Penumbra by 2.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company’s stock worth $737,000 after purchasing an additional 82 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Penumbra by 4.1% during the 2nd quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock valued at $599,000 after purchasing an additional 92 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in Penumbra by 0.3% in the second quarter. New York State Teachers Retirement System now owns 38,154 shares of the company’s stock valued at $9,791,000 after buying an additional 100 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Evercore ISI reissued an “outperform” rating and issued a $340.00 price objective on shares of Penumbra in a research note on Monday, January 5th. Bank of America upped their price objective on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, January 5th. Canaccord Genuity Group lowered Penumbra from a “buy” rating to a “hold” rating and boosted their price target for the company from $359.00 to $374.00 in a report on Tuesday, January 20th. Leerink Partners cut shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $358.00.

Insider Activity at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 1,800 shares of Penumbra stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $300.06, for a total value of $540,108.00. Following the completion of the transaction, the executive vice president owned 64,736 shares of the company’s stock, valued at approximately $19,424,684.16. This trade represents a 2.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,772 shares of company stock valued at $10,175,467 in the last three months. Insiders own 4.20% of the company’s stock.

Penumbra Price Performance

PEN stock opened at $340.02 on Thursday. The company has a market capitalization of $13.32 billion, a P/E ratio of 81.34, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The business has a 50-day simple moving average of $322.29 and a two-hundred day simple moving average of $280.05. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.07. The firm had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. Research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Penumbra 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.