Blair William & Co. IL Sells 2,456 Shares of Penumbra, Inc. $PEN

Blair William & Co. IL cut its holdings in Penumbra, Inc. (NYSE:PEN) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,108 shares of the company’s stock after selling 2,456 shares during the quarter. Blair William & Co. IL’s holdings in Penumbra were worth $2,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEN. Mather Group LLC. bought a new stake in shares of Penumbra in the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Penumbra during the 2nd quarter valued at $30,000. Rothschild Investment LLC bought a new position in Penumbra during the third quarter worth $40,000. Parkside Financial Bank & Trust boosted its stake in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after purchasing an additional 62 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PEN shares. JPMorgan Chase & Co. raised shares of Penumbra from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $275.00 to $370.00 in a research note on Thursday, December 18th. Bank of America increased their price objective on shares of Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th. UBS Group reaffirmed a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. Finally, Wall Street Zen downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $361.69.

Penumbra Stock Down 0.3%

Shares of NYSE:PEN opened at $335.05 on Friday. The business’s 50 day moving average is $339.85 and its 200 day moving average is $297.07. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 74.13, a PEG ratio of 2.06 and a beta of 0.81. The company has a quick ratio of 4.29, a current ratio of 6.64 and a debt-to-equity ratio of 0.01.

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

Insider Activity

In related news, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Wilder sold 186 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total transaction of $57,793.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,804 shares of company stock worth $948,419 over the last quarter. Insiders own 4.20% of the company’s stock.

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.