Havemeyer Place LP Invests $1.50 Million in Penumbra, Inc. $PEN

Havemeyer Place LP bought a new position in shares of Penumbra, Inc. (NYSE:PEN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,828 shares of the company’s stock, valued at approximately $1,501,000.

A number of other institutional investors also recently modified their holdings of PEN. William Blair Investment Management LLC purchased a new stake in shares of Penumbra during the fourth quarter worth about $107,567,000. Holocene Advisors LP purchased a new stake in shares of Penumbra during the third quarter worth about $78,585,000. Man Group plc boosted its holdings in shares of Penumbra by 1,862.2% during the second quarter. Man Group plc now owns 206,461 shares of the company’s stock worth $52,984,000 after purchasing an additional 195,939 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Penumbra by 139.4% during the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after purchasing an additional 192,734 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Penumbra in the third quarter worth about $43,476,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 transaction of $32,822.00. Following the completion of the transaction, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore restated an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Citigroup lowered their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. UBS Group restated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Penumbra has an average rating of “Hold” and an average price target of $361.33.

Penumbra Stock Performance

Shares of PEN opened at $320.51 on Friday. 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, Inc. has a one year low of $221.26 and a one year high of $362.41. The company has a 50-day simple moving average of $326.86 and a two-hundred day simple moving average of $326.01. The firm has a market capitalization of $12.61 billion, a PE ratio of 73.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.71.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share 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 business had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. During the same period in the prior year, the business posted $0.83 EPS. Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts anticipate that Penumbra, Inc. will post 5.08 EPS for the current fiscal year.

About Penumbra

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.