Advisor Group Holdings Inc. bought a new stake in shares of Penumbra Inc (NYSE:PEN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,056 shares of the company’s stock, valued at approximately $2,269,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its stake in Penumbra by 0.4% during the 1st quarter. BlackRock Inc. now owns 3,103,419 shares of the company’s stock valued at $500,673,000 after purchasing an additional 11,544 shares during the period. William Blair Investment Management LLC raised its stake in Penumbra by 3.9% during the 1st quarter. William Blair Investment Management LLC now owns 1,266,233 shares of the company’s stock valued at $204,281,000 after purchasing an additional 48,046 shares during the period. Wellington Management Group LLP raised its stake in Penumbra by 14.3% during the 1st quarter. Wellington Management Group LLP now owns 1,116,231 shares of the company’s stock valued at $180,081,000 after purchasing an additional 139,901 shares during the period. Invesco Ltd. raised its stake in Penumbra by 15.7% during the 1st quarter. Invesco Ltd. now owns 626,177 shares of the company’s stock valued at $101,021,000 after purchasing an additional 85,123 shares during the period. Finally, Norges Bank bought a new stake in Penumbra during the 4th quarter valued at approximately $79,928,000. 83.77% of the stock is currently owned by institutional investors.
In other news, insider Arani Bose sold 900 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $185.11, for a total transaction of $166,599.00. Following the transaction, the insider now owns 579,762 shares of the company’s stock, valued at approximately $107,319,743.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 8,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $187.67, for a total value of $1,501,360.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,544 shares of company stock worth $8,234,855. Corporate insiders own 8.90% of the company’s stock.
NYSE:PEN opened at $178.82 on Wednesday. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 164.06 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.15 and a quick ratio of 3.27. The stock’s 50 day simple moving average is $174.21 and its two-hundred day simple moving average is $170.05. Penumbra Inc has a 1 year low of $121.80 and a 1 year high of $194.93.
Penumbra (NYSE:PEN) last released its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). The company had revenue of $137.33 million for the quarter, compared to the consensus estimate of $136.28 million. Penumbra had a net margin of 7.04% and a return on equity of 5.72%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. As a group, analysts anticipate that Penumbra Inc will post -0.09 EPS for the current year.
Several brokerages recently issued reports on PEN. Wells Fargo & Co decreased their target price on Penumbra from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. Citigroup lifted their price objective on Penumbra from $192.00 to $214.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $184.00 price objective (down previously from $186.00) on shares of Penumbra in a research note on Tuesday, April 7th. Zacks Investment Research downgraded Penumbra from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Penumbra from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $194.50.
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.
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