TD Asset Management Inc Sells 9,374 Shares of Penumbra, Inc. $PEN

TD Asset Management Inc lowered its position in Penumbra, Inc. (NYSE:PEN) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,154 shares of the company’s stock after selling 9,374 shares during the quarter. TD Asset Management Inc’s holdings in Penumbra were worth $27,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Penumbra by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock worth $238,365,000 after purchasing an additional 18,738 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Penumbra during the 4th quarter valued at $107,567,000. AQR Capital Management LLC boosted its position in Penumbra by 139.4% during the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after acquiring an additional 192,734 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Penumbra by 6.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 318,154 shares of the company’s stock valued at $98,917,000 after acquiring an additional 19,244 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in Penumbra during the 3rd quarter valued at $78,585,000. Institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup dropped their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. UBS Group reaffirmed a “neutral” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. Finally, Evercore reaffirmed an “outperform” rating and set a $335.00 target price on shares of Penumbra in a research report on Thursday, May 7th. Three research 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $361.33.

Penumbra Stock Down 0.0%

Shares of NYSE PEN opened at $320.51 on Monday. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock’s fifty day simple moving average is $326.86 and its two-hundred day simple moving average is $326.35. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The stock 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 issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $370.47 million. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, analysts expect that Penumbra, Inc. will post 5.08 EPS for the current fiscal year.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

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.