17 Capital Partners LLC Sells 2,030 Shares of Penumbra, Inc. $PEN

17 Capital Partners LLC lessened its stake in Penumbra, Inc. (NYSE:PEN) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,832 shares of the company’s stock after selling 2,030 shares during the period. 17 Capital Partners LLC’s holdings in Penumbra were worth $570,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in Penumbra by 42.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 173,846 shares of the company’s stock worth $54,050,000 after purchasing an additional 51,437 shares in the last quarter. Kestra Advisory Services LLC raised its position in Penumbra by 12.5% in the fourth quarter. Kestra Advisory Services LLC now owns 944 shares of the company’s stock worth $293,000 after purchasing an additional 105 shares in the last quarter. FORA Capital LLC acquired a new position in Penumbra in the fourth quarter worth about $499,000. Marshall Wace LLP increased its holdings in shares of Penumbra by 803.0% during the fourth quarter. Marshall Wace LLP now owns 105,331 shares of the company’s stock worth $32,748,000 after buying an additional 93,666 shares in the last quarter. Finally, Formula Growth Ltd. acquired a new stake in shares of Penumbra during the fourth quarter worth approximately $1,275,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PEN shares. Evercore reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Citigroup dropped their price objective 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. UBS Group reaffirmed a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $361.33.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Penumbra Price Performance

Shares of PEN stock opened at $318.63 on Friday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The stock has a market cap of $12.53 billion, a PE ratio of 73.42, a PEG ratio of 1.95 and a beta of 0.71. 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’s 50 day moving average price is $325.68 and its two-hundred day moving average price is $327.33.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $370.47 million. During the same period in the previous year, the business posted $0.83 earnings per share. Penumbra’s revenue was up 15.6% compared to the same quarter last year. As a group, analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

Penumbra Company 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.