Keybank National Association OH Cuts Stake in Penumbra, Inc. $PEN

Keybank National Association OH decreased its stake in Penumbra, Inc. (NYSE:PEN) by 48.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,894 shares of the company’s stock after selling 1,811 shares during the period. Keybank National Association OH’s holdings in Penumbra were worth $622,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PEN. Geode Capital Management LLC grew its position in Penumbra by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after acquiring an additional 18,738 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Penumbra by 1.1% in the fourth quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock valued at $198,455,000 after purchasing an additional 7,211 shares during the period. Artisan Partners Limited Partnership grew its holdings in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Penumbra by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after purchasing an additional 7,050 shares in the last quarter. Finally, Capital World Investors increased its stake in Penumbra by 2.6% during the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock worth $132,589,000 after buying an additional 10,724 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Down 0.3%

Shares of NYSE PEN opened at $317.43 on Thursday. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 73.14, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $320.88 and its 200 day simple moving average is $329.77.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The firm had revenue of $374.76 million during 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%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities research analysts expect that Penumbra, Inc. will post 5.04 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore reissued an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a research report on Monday. Zacks Research lowered Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Citigroup reduced their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $360.33.

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.