Thurston Springer Miller Herd & Titak Inc. Buys New Stake in Penumbra, Inc. $PEN

Thurston Springer Miller Herd & Titak Inc. purchased a new position in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,781 shares of the company’s stock, valued at approximately $554,000.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. increased its position in Penumbra by 1,139.3% during the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after acquiring an additional 582,369 shares during the last quarter. Holocene Advisors LP purchased a new stake in Penumbra in the 3rd quarter worth about $78,585,000. Qube Research & Technologies Ltd bought a new stake in Penumbra in the second quarter worth about $53,818,000. Man Group plc lifted its stake in Penumbra by 1,862.2% in the second quarter. Man Group plc now owns 206,461 shares of the company’s stock worth $52,984,000 after purchasing an additional 195,939 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Penumbra by 139.4% during the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after buying an additional 192,734 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of PEN stock opened at $330.07 on Friday. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $340.48 and a two-hundred day simple moving average of $304.10. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 73.02, a P/E/G ratio of 2.03 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEN. Needham & Company LLC lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, January 16th. Leerink Partners downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Bank of America increased their target price on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Wall Street Zen downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Truist Financial lowered shares of Penumbra from a “buy” rating to a “hold” rating and boosted their target price for the company from $370.00 to $374.00 in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Penumbra has an average rating of “Hold” and an average target price of $361.69.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction that occurred on 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 of the company’s stock, valued at $2,573,027.20. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at $6,282,231.90. This trade represents a 11.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.20% of the company’s stock.

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.