Bamco Inc. NY Has $3.42 Million Position in Penumbra, Inc. $PEN

Bamco Inc. NY lessened its holdings in Penumbra, Inc. (NYSE:PEN) by 22.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,500 shares of the company’s stock after selling 4,000 shares during the quarter. Bamco Inc. NY’s holdings in Penumbra were worth $3,420,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Penumbra by 2.6% during the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock worth $181,314,000 after purchasing an additional 17,772 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Penumbra by 7.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,355 shares of the company’s stock worth $3,684,000 after purchasing an additional 1,034 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Penumbra by 8.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,950 shares of the company’s stock worth $2,553,000 after purchasing an additional 776 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Penumbra in the second quarter worth $7,999,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEN. UBS Group reaffirmed a “neutral” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. 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 cut Penumbra from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th. Bank of America raised their price objective on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. raised Penumbra from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $275.00 to $370.00 in a research note on Thursday, December 18th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, Penumbra presently has a consensus rating of “Hold” and an average price target of $361.69.

Insider Activity

In other news, Director Thomas Wilder sold 186 shares of Penumbra 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 Securities & Exchange Commission, which is available through this link. Also, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the sale, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,804 shares of company stock worth $948,419 over the last three months. 4.20% of the stock is currently owned by insiders.

Penumbra Price Performance

Shares of NYSE:PEN opened at $336.06 on Tuesday. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The stock’s 50 day moving average is $340.81 and its 200-day moving average is $298.45. The company has a quick ratio of 4.29, a current ratio of 6.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 74.35, a PEG ratio of 2.06 and a beta of 0.81.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). The business had revenue of $385.39 million during the quarter, compared to analyst estimates of $367.18 million. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS 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.