SG Americas Securities LLC Increases Holdings in Penumbra, Inc. $PEN

SG Americas Securities LLC boosted its stake in Penumbra, Inc. (NYSE:PEN) by 818.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,035 shares of the company’s stock after purchasing an additional 90,924 shares during the period. SG Americas Securities LLC owned approximately 0.26% of Penumbra worth $33,505,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEN. UBS Group reissued a “neutral” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. 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. Evercore reaffirmed an “outperform” rating and set a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Citigroup cut their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $361.33.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by company insiders.

Penumbra Trading Up 0.6%

Shares of NYSE PEN opened at $318.08 on Wednesday. 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 stock’s 50 day moving average price is $323.89 and its two-hundred day moving average price is $328.75. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The stock has a market capitalization of $12.51 billion, a P/E ratio of 73.29, a PEG ratio of 1.94 and a beta of 0.71.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 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 firm 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. Penumbra’s revenue was up 15.6% compared to the same quarter last year. On average, analysts anticipate that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

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.