Bank of New York Mellon Corp Sells 15,935 Shares of Penumbra, Inc. $PEN

Bank of New York Mellon Corp lowered its holdings in Penumbra, Inc. (NYSE:PEN) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 248,656 shares of the company’s stock after selling 15,935 shares during the quarter. Bank of New York Mellon Corp’s holdings in Penumbra were worth $77,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PEN. William Blair Investment Management LLC bought a new stake in Penumbra in the 4th quarter valued at about $107,567,000. Holocene Advisors LP bought a new stake in shares of Penumbra during the 3rd quarter worth approximately $78,585,000. Man Group plc lifted its holdings in shares of Penumbra by 1,862.2% during the 2nd quarter. Man Group plc now owns 206,461 shares of the company’s stock worth $52,984,000 after acquiring an additional 195,939 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Penumbra by 139.4% during the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after acquiring an additional 192,734 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Penumbra during the 3rd quarter worth approximately $43,476,000. Institutional investors own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The shares were 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 in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by company insiders.

Penumbra Trading Up 0.3%

Shares of NYSE PEN opened at $320.94 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The firm has a 50 day moving average price of $326.26 and a two-hundred day moving average price of $326.91. The stock has a market cap of $12.62 billion, a P/E ratio of 73.95, a price-to-earnings-growth ratio of 1.96 and a beta of 0.71.

Penumbra (NYSE:PEN) last announced its quarterly 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). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEN. Citigroup cut their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating and set a $335.00 price target on shares of Penumbra in a report on Thursday, May 7th. UBS Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $361.33.

About Penumbra

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.