Geode Capital Management LLC Has $238.37 Million Stock Holdings in Penumbra, Inc. $PEN

Geode Capital Management LLC grew its holdings in Penumbra, Inc. (NYSE:PEN) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 766,510 shares of the company’s stock after purchasing an additional 18,738 shares during the quarter. Geode Capital Management LLC owned about 1.96% of Penumbra worth $238,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new position in shares of Penumbra in the 4th quarter valued at about $107,567,000. AQR Capital Management LLC lifted its stake in shares of Penumbra by 139.4% in the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after purchasing an additional 192,734 shares during the period. Holocene Advisors LP acquired a new position in shares of Penumbra in the 3rd quarter valued at about $78,585,000. Dimensional Fund Advisors LP lifted its stake in shares of Penumbra by 41.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 296,584 shares of the company’s stock valued at $75,126,000 after purchasing an additional 86,335 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Penumbra by 26.7% in the 2nd quarter. Bank of America Corp DE now owns 263,627 shares of the company’s stock valued at $67,655,000 after purchasing an additional 55,551 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Down 0.1%

PEN stock opened at $318.66 on Wednesday. The stock’s 50 day simple moving average is $328.12 and its 200 day simple moving average is $325.22. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. 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 company has a market cap of $12.53 billion, a P/E ratio of 73.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share 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 firm had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same period last year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, research analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. UBS Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Finally, Evercore reaffirmed an “outperform” rating and set a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Three 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.com, Penumbra presently has an average rating of “Hold” and an average price target of $361.33.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the business’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 transaction of $32,822.00. Following the completion of the sale, the director directly 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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

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.