Penumbra, Inc. $PEN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Penumbra, Inc. (NYSE:PEN) by 0.9% during the first quarter, Holdings Channel reports. The firm owned 246,527 shares of the company’s stock after selling 2,129 shares during the period. Bank of New York Mellon Corp’s holdings in Penumbra were worth $80,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Penumbra by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after purchasing an additional 18,738 shares during the period. Invesco Ltd. increased 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 raised its holdings in shares of Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after buying an additional 370,636 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Penumbra by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after buying an additional 7,050 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Penumbra by 2.6% during the fourth 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 own 88.88% of the company’s stock.

Penumbra Stock Down 0.2%

Shares of PEN stock opened at $317.39 on Wednesday. The stock’s 50 day simple moving average is $319.76 and its 200 day simple moving average is $329.90. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month 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 capitalization of $12.48 billion, a price-to-earnings ratio of 73.13, a PEG ratio of 1.97 and a beta of 0.70.

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 the consensus estimate of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter in the previous year, the business posted $0.83 EPS. The company’s revenue was up 15.6% on a year-over-year basis. As a group, research analysts predict that Penumbra, Inc. will post 5.02 EPS for the current year.

Analysts Set New Price Targets

PEN has been the topic of several recent research reports. Citigroup lowered their price objective on shares of 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 upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Finally, Evercore restated an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $360.33.

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.