Artisan Partners Limited Partnership Raises Stake in Penumbra, Inc. $PEN

Artisan Partners Limited Partnership boosted its position in Penumbra, Inc. (NYSE:PEN) by 165.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 594,112 shares of the company’s stock after purchasing an additional 370,636 shares during the period. Artisan Partners Limited Partnership’s holdings in Penumbra were worth $184,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ExodusPoint Capital Management LP purchased a new stake in Penumbra in the fourth quarter worth approximately $6,762,000. Blair William & Co. IL lifted its position in Penumbra by 2.5% in the fourth quarter. Blair William & Co. IL now owns 8,310 shares of the company’s stock valued at $2,584,000 after purchasing an additional 202 shares during the last quarter. Royal Bank of Canada lifted its position in Penumbra by 3.0% in the fourth quarter. Royal Bank of Canada now owns 79,450 shares of the company’s stock valued at $24,701,000 after purchasing an additional 2,350 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Penumbra by 5.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,815 shares of the company’s stock valued at $1,497,000 after purchasing an additional 248 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Penumbra by 13.2% in the fourth quarter. MML Investors Services LLC now owns 1,563 shares of the company’s stock valued at $486,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PEN. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. UBS Group reiterated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, February 26th. Evercore reiterated an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Finally, Citigroup lowered their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, Penumbra has an average rating of “Hold” and an average target price of $361.33.

Insiders Place Their Bets

In related news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was 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 $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Penumbra Price Performance

Shares of Penumbra stock opened at $318.38 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The company has a market cap of $12.52 billion, a PE ratio of 73.36, a P/E/G ratio of 1.95 and a beta of 0.71. The business has a 50 day moving average of $325.20 and a 200 day moving average of $327.83. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The business had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS. As a group, equities research analysts forecast that Penumbra, Inc. will post 5.08 earnings per share 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.