Picton Mahoney Asset Management Purchases New Holdings in Penumbra Inc (PEN)

Picton Mahoney Asset Management acquired a new position in shares of Penumbra Inc (NYSE:PEN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,900 shares of the company’s stock, valued at approximately $1,931,000.

A number of other large investors have also recently made changes to their positions in the business. Advisors Preferred LLC raised its holdings in Penumbra by 40.1% during the 2nd quarter. Advisors Preferred LLC now owns 1,220 shares of the company’s stock worth $169,000 after purchasing an additional 349 shares during the last quarter. NumerixS Investment Technologies Inc raised its holdings in Penumbra by 20.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock worth $354,000 after purchasing an additional 420 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in Penumbra by 17.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,230 shares of the company’s stock worth $446,000 after purchasing an additional 489 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in Penumbra by 15.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,558 shares of the company’s stock worth $630,000 after purchasing an additional 600 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its holdings in Penumbra by 35.0% during the 2nd quarter. Leavell Investment Management Inc. now owns 2,700 shares of the company’s stock worth $373,000 after purchasing an additional 700 shares during the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.

Several analysts have weighed in on the company. Zacks Investment Research raised Penumbra from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a report on Wednesday. BMO Capital Markets boosted their price objective on Penumbra from $150.00 to $152.00 and gave the stock a “market perform” rating in a report on Tuesday. Bank of America reissued a “buy” rating and set a $36.00 price objective on shares of Penumbra in a report on Monday, October 29th. TheStreet raised Penumbra from a “d+” rating to a “c” rating in a report on Monday, September 17th. Finally, Canaccord Genuity reissued a “buy” rating and set a $175.00 price objective on shares of Penumbra in a report on Monday, August 20th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Penumbra presently has an average rating of “Buy” and an average target price of $145.57.

In other news, EVP Johanna Roberts sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $150.00, for a total transaction of $150,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Donen Davis sold 7,500 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $125.05, for a total value of $937,875.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,518 shares of company stock valued at $4,153,618 over the last 90 days. Corporate insiders own 10.70% of the company’s stock.

Penumbra stock opened at $150.20 on Friday. The stock has a market cap of $5.40 billion, a PE ratio of 326.00, a P/E/G ratio of 16.47 and a beta of 0.41. Penumbra Inc has a 1 year low of $82.55 and a 1 year high of $167.35.

Penumbra (NYSE:PEN) last posted its earnings results on Monday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.14. The company had revenue of $111.80 million during the quarter, compared to analyst estimates of $103.59 million. Penumbra had a return on equity of 4.21% and a net margin of 2.15%. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. Equities research analysts predict that Penumbra Inc will post 0.47 earnings per share for the current fiscal year.

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About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

Further Reading: Float

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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