New York Life Investment Management LLC Takes Position in Penumbra, Inc. $PEN

New York Life Investment Management LLC purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,213 shares of the company’s stock, valued at approximately $999,000.

Other hedge funds have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Penumbra in the 4th quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new stake in shares of Penumbra in the 3rd quarter valued at approximately $40,000. Covestor Ltd grew its stake in shares of Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after buying an additional 62 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Penumbra by 27.1% in the 4th 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 period. Finally, Allworth Financial LP grew its holdings in shares of Penumbra by 36.2% during the 3rd quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of Penumbra stock opened at $326.40 on Wednesday. The business has a 50-day moving average of $330.45 and a 200 day moving average of $320.35. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 75.21, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The firm had revenue of $374.76 million for the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter last year, the business earned $0.83 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the transaction, the director owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at $6,282,231.90. This represents a 11.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group reiterated a “neutral” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Canaccord Genuity Group cut Penumbra from a “buy” rating to a “hold” rating and increased their price target for the stock from $359.00 to $374.00 in a report on Tuesday, January 20th. Royal Bank Of Canada cut Penumbra from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $355.00 to $374.00 in a report on Tuesday, January 20th. Wall Street Zen upgraded Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Evercore reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.