Legal & General Group Plc Lowers Position in Penumbra, Inc. $PEN

Legal & General Group Plc decreased its position in shares of Penumbra, Inc. (NYSE:PEN) by 9.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,675 shares of the company’s stock after selling 7,357 shares during the period. Legal & General Group Plc owned about 0.18% of Penumbra worth $22,284,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in shares of Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after purchasing an additional 44,185 shares during the period. William Blair Investment Management LLC bought a new position in Penumbra in the fourth quarter worth $107,567,000. AQR Capital Management LLC raised its holdings in Penumbra by 139.4% in the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after purchasing an additional 192,734 shares in the last quarter. Holocene Advisors LP purchased a new position in Penumbra during the third quarter valued at $78,585,000. Finally, Dimensional Fund Advisors LP lifted its position in Penumbra by 41.1% during the third quarter. Dimensional Fund Advisors LP now owns 296,584 shares of the company’s stock valued at $75,126,000 after buying an additional 86,335 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

PEN stock opened at $318.46 on Monday. The stock’s 50 day simple moving average is $328.50 and its 200 day simple moving average is $324.94. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market capitalization of $12.53 billion, a PE ratio of 73.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71.

Penumbra (NYSE:PEN) last posted 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 during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. As a group, research analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEN. Evercore reaffirmed an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a research report on Thursday, May 7th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Citigroup dropped 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. Finally, UBS Group restated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $361.33.

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.