Penumbra, Inc. $PEN Stake Lowered by Carret Asset Management LLC

Carret Asset Management LLC cut its stake in shares of Penumbra, Inc. (NYSE:PEN) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,000 shares of the company’s stock after selling 5,000 shares during the quarter. Penumbra comprises approximately 2.1% of Carret Asset Management LLC’s portfolio, making the stock its 7th biggest position. Carret Asset Management LLC owned approximately 0.18% of Penumbra worth $22,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PEN. Geode Capital Management LLC grew its position 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 last quarter. Capital World Investors raised its holdings in Penumbra by 2.6% in 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 last quarter. William Blair Investment Management LLC bought a new position in shares of Penumbra in the fourth quarter worth approximately $107,567,000. AQR Capital Management LLC lifted its stake in shares of 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 buying an additional 192,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Penumbra by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 324,789 shares of the company’s stock valued at $100,986,000 after buying an additional 28,205 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the subject of several analyst reports. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and set a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. UBS Group reissued a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, February 26th. Citigroup decreased their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $361.33.

Penumbra Stock Up 0.1%

Shares of Penumbra stock opened at $318.38 on Wednesday. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. 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’s 50 day moving average is $325.20 and its 200 day moving average is $327.83. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 73.36, 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 company 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 company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. Research analysts anticipate that Penumbra, Inc. will post 5.08 EPS for the current year.

Insider Activity at Penumbra

In related 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 value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares of the company’s stock, valued at $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 owned by insiders.

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.