Legal & General Group Plc Reduces Stock Position in Penumbra, Inc. $PEN

Legal & General Group Plc lessened its stake in Penumbra, Inc. (NYSE:PEN) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,675 shares of the company’s stock after selling 7,357 shares during the period. Legal & General Group Plc’s holdings in Penumbra were worth $22,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after acquiring an additional 184 shares during the period. Cerity Partners LLC boosted its position in Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after purchasing an additional 1,829 shares during the last quarter. California Public Employees Retirement System boosted its position in Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after purchasing an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Penumbra during the 2nd quarter valued at about $1,137,000. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Up 0.1%

NYSE PEN opened at $318.46 on Monday. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $12.53 billion, a P/E ratio of 73.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The stock’s 50-day moving average price is $328.50 and its 200-day moving average price is $324.94.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. On average, equities research analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the company’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 directly owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on PEN shares. UBS Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, February 26th. Citigroup cut their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Evercore reiterated an “outperform” rating and issued a $335.00 price target on shares of Penumbra in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.