Clearbridge Investments LLC Has $214.78 Million Stock Position in Penumbra, Inc. $PEN

Clearbridge Investments LLC decreased its stake in Penumbra, Inc. (NYSE:PEN) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 690,814 shares of the company’s stock after selling 66,694 shares during the period. Clearbridge Investments LLC owned approximately 1.76% of Penumbra worth $214,781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PEN. Royal Bank of Canada grew its stake in shares of Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after acquiring an additional 184 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after acquiring an additional 1,829 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after acquiring an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Penumbra in the second quarter worth $1,137,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Down 0.0%

Shares of NYSE PEN opened at $320.51 on Monday. The stock has a market cap of $12.61 billion, a PE ratio of 73.85, a PEG ratio of 1.96 and a beta of 0.71. The business has a fifty day moving average of $326.86 and a two-hundred day moving average of $326.35. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week 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.

Penumbra (NYSE:PEN) last issued 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). The company 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%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, equities research analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

Several research analysts recently commented on PEN shares. Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a research report on Thursday, May 7th. UBS Group reaffirmed a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. Finally, Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Penumbra presently has a consensus rating of “Hold” and a consensus target price of $361.33.

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.