Bessemer Group Inc. Sells 3,278 Shares of Penumbra, Inc. $PEN

Bessemer Group Inc. reduced its position in Penumbra, Inc. (NYSE:PEN) by 69.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,465 shares of the company’s stock after selling 3,278 shares during the quarter. Bessemer Group Inc.’s holdings in Penumbra were worth $482,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in shares of Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after buying an additional 82 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 81 shares during the period. Motiv8 Investments LLC bought a new stake in shares of Penumbra during the 4th quarter worth approximately $27,000. Morse Asset Management Inc bought a new stake in shares of Penumbra during the 4th quarter worth approximately $39,000. Finally, Farther Finance Advisors LLC boosted its holdings in Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after acquiring an additional 38 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.2%

Penumbra stock opened at $318.60 on Friday. The stock has a 50-day moving average of $319.45 and a two-hundred day moving average of $329.92. 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, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock has a market cap of $12.53 billion, a PE ratio of 73.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business had revenue of $374.76 million for the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the previous year, the firm posted $0.83 EPS. Penumbra’s revenue was up 15.6% on a year-over-year basis. On average, research analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Zacks Research downgraded Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Evercore reiterated an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Citigroup lowered their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Penumbra has a consensus rating of “Hold” and an average 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.