Penumbra, Inc. $PEN Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in Penumbra, Inc. (NYSE:PEN) by 76.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,721 shares of the company’s stock after selling 37,250 shares during the period. Intech Investment Management LLC’s holdings in Penumbra were worth $3,644,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 100 shares of Penumbra 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 sale, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

PEN has been the topic of a number of analyst reports. Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Evercore restated an “outperform” rating and issued a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Finally, UBS Group restated a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Penumbra has a consensus rating of “Hold” and a consensus target price of $361.33.

Penumbra Stock Performance

NYSE PEN opened at $318.75 on Tuesday. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The business’s 50-day moving average price is $328.12 and its 200 day moving average price is $325.22. The firm has a market cap of $12.54 billion, a P/E ratio of 73.44, a P/E/G ratio of 1.95 and a beta of 0.71.

Penumbra (NYSE:PEN) last released its quarterly earnings results 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). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million for the quarter, compared to analysts’ expectations of $370.47 million. During the same period in the prior year, the business earned $0.83 EPS. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current year.

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.