Penumbra, Inc. $PEN Position Cut by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its position in shares of Penumbra, Inc. (NYSE:PEN) by 74.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,659 shares of the company’s stock after selling 16,161 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Penumbra were worth $1,434,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mather Group LLC. bought a new stake in Penumbra in the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Penumbra during the second quarter valued at approximately $30,000. Parkside Financial Bank & Trust grew its holdings in Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after buying an additional 66 shares in the last quarter. Covestor Ltd increased its position in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after acquiring an additional 62 shares during the period. Finally, State of Wyoming acquired a new stake in Penumbra in the 2nd quarter valued at approximately $64,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 1,800 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $300.06, for a total transaction of $540,108.00. Following the completion of the sale, the executive vice president directly owned 64,736 shares in the company, valued at approximately $19,424,684.16. This trade represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total value of $42,329.88. Following the sale, the director directly owned 8,516 shares of the company’s stock, valued at approximately $1,938,071.28. The trade was a 2.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,144 shares of company stock worth $10,260,127 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

Penumbra Stock Up 0.4%

Shares of Penumbra stock opened at $358.27 on Friday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a market cap of $14.03 billion, a P/E ratio of 85.71, a P/E/G ratio of 2.20 and a beta of 0.71. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $319.08 and a 200 day moving average price of $277.26.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. The company had revenue of $354.69 million for the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEN has been the subject of several recent analyst reports. Bank of America increased their price target on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 29th. Piper Sandler downgraded shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price target on the stock. in a research report on Thursday, January 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $340.00 price target on shares of Penumbra in a research note on Monday, January 5th. Finally, UBS Group lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $358.00.

Penumbra 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.