Artisan Partners Limited Partnership Raises Position in Penumbra, Inc. $PEN

Artisan Partners Limited Partnership increased its holdings in Penumbra, Inc. (NYSE:PEN) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,476 shares of the company’s stock after purchasing an additional 19,418 shares during the period. Artisan Partners Limited Partnership owned 0.57% of Penumbra worth $56,611,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in Penumbra by 13.7% in the third quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after acquiring an additional 44,185 shares during the last quarter. Machina Capital S.A.S. acquired a new position in shares of Penumbra in the 2nd quarter valued at about $369,000. New York State Common Retirement Fund grew its holdings in shares of Penumbra by 8.7% during the 3rd quarter. New York State Common Retirement Fund now owns 82,849 shares of the company’s stock worth $20,987,000 after purchasing an additional 6,642 shares during the period. First Trust Advisors LP grew its holdings in shares of Penumbra by 4.0% during the 2nd quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock worth $25,849,000 after purchasing an additional 3,906 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Penumbra by 22.9% in the second quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company’s stock valued at $6,827,000 after buying an additional 4,960 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on PEN. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th. Robert W. Baird reaffirmed a “neutral” rating and set a $374.00 price target (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. William Blair lowered Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Royal Bank Of Canada downgraded Penumbra from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $355.00 to $374.00 in a research report on Tuesday, January 20th. Finally, BTIG Research lowered Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 target price for the company. in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $361.69.

Penumbra Trading Up 0.7%

Shares of PEN opened at $344.32 on Friday. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock has a 50-day moving average price of $335.63 and a 200 day moving average price of $291.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. The company has a market capitalization of $13.51 billion, a P/E ratio of 76.18, a P/E/G ratio of 2.10 and a beta of 0.82.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, March 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The company had revenue of $385.39 million for the quarter, compared to analyst estimates of $367.18 million. Penumbra had a return on equity of 11.72% and a net margin of 12.66%.Penumbra’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In other news, Director Thomas Wilder sold 186 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arani Bose sold 15,000 shares of Penumbra stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the transaction, the director owned 258,462 shares of the company’s stock, valued at $79,818,234.84. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,372 shares of company stock valued at $5,044,546. 4.20% of the stock is owned by insiders.

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.