Sei Investments Co. Trims Stock Holdings in Penumbra, Inc. $PEN

Sei Investments Co. lowered its stake in Penumbra, Inc. (NYSE:PEN) by 67.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,744 shares of the company’s stock after selling 59,671 shares during the quarter. Sei Investments Co. owned about 0.07% of Penumbra worth $9,439,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC increased its position in shares of Penumbra by 2.3% during the fourth quarter. Hsbc Holdings PLC now owns 1,527 shares of the company’s stock valued at $475,000 after acquiring an additional 35 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after acquiring an additional 38 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Penumbra by 2.3% in the 4th quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock worth $537,000 after acquiring an additional 39 shares during the last quarter. Keybank National Association OH boosted its position in shares of Penumbra by 1.2% during the 4th quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock worth $1,152,000 after purchasing an additional 43 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Penumbra by 11.3% during the 4th quarter. UMB Bank n.a. now owns 442 shares of the company’s stock worth $137,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.5%

NYSE PEN opened at $321.40 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 78.97, a PEG ratio of 1.99 and a beta of 0.70. The firm has a 50 day simple moving average of $318.75 and a 200-day simple moving average of $330.03. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41.

Penumbra (NYSE:PEN) last announced its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a return on equity of 10.70% and a net margin of 10.67%.Penumbra’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. Equities research analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Evercore reiterated an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $367.07.

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.