Geode Capital Management LLC Buys 18,738 Shares of Penumbra, Inc. $PEN

Geode Capital Management LLC grew its stake in shares of Penumbra, Inc. (NYSE:PEN) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 766,510 shares of the company’s stock after purchasing an additional 18,738 shares during the period. Geode Capital Management LLC’s holdings in Penumbra were worth $238,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in Penumbra by 13.3% during the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock worth $12,405,000 after purchasing an additional 5,749 shares in the last quarter. Algert Global LLC increased its holdings in Penumbra by 38.8% during the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after purchasing an additional 12,830 shares in the last quarter. Citigroup Inc. increased its holdings in Penumbra by 75.9% during the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock worth $8,501,000 after purchasing an additional 14,477 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in Penumbra during the 3rd quarter worth approximately $1,900,000. Finally, Picton Mahoney Asset Management bought a new stake in Penumbra during the 3rd quarter worth approximately $1,028,000. 88.88% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of the company’s 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 completion of the transaction, the director directly owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Penumbra Stock Performance

PEN stock opened at $318.66 on Wednesday. The firm has a market cap of $12.53 billion, a PE ratio of 73.42, a P/E/G ratio of 1.95 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $328.12 and a 200-day moving average of $325.22. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. As a group, sell-side analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on PEN shares. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. UBS Group reaffirmed a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, February 26th. Evercore reaffirmed an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a report on Thursday, May 7th. Finally, Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $361.33.

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.