Virtu Financial LLC Invests $895,000 in Penumbra, Inc. $PEN

Virtu Financial LLC purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,880 shares of the company’s stock, valued at approximately $895,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEN. Geode Capital Management LLC grew its position in Penumbra by 2.5% during the 4th 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. Invesco Ltd. lifted its holdings in shares of Penumbra by 1.1% in the fourth quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock valued at $198,455,000 after purchasing an additional 7,211 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Penumbra by 165.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after buying an additional 370,636 shares during the period. Janus Henderson Group PLC boosted its position in shares of Penumbra by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock worth $147,962,000 after buying an additional 7,050 shares during the period. Finally, Capital World Investors grew its holdings in shares of Penumbra by 2.6% during the fourth quarter. Capital World Investors now owns 426,456 shares of the company’s stock valued at $132,589,000 after buying an additional 10,724 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE:PEN opened at $316.88 on Monday. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 73.01, a P/E/G ratio of 1.94 and a beta of 0.71. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. 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 business has a fifty day simple moving average of $324.39 and a 200 day simple moving average of $328.32.

Penumbra (NYSE:PEN) last issued 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 during the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter last year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, sell-side analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PEN shares. Evercore reissued an “outperform” rating and set a $335.00 price target on shares of Penumbra in a research report on Thursday, May 7th. UBS Group restated a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a research report on Thursday, February 26th. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Finally, Citigroup reduced their price target 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. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $361.33.

Insider Activity at Penumbra

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

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.