Penumbra, Inc. $PEN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,527 shares of the company’s stock after selling 2,129 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.63% of Penumbra worth $80,952,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEN. Artisan Partners Limited Partnership boosted its holdings in Penumbra by 165.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Penumbra during the 4th quarter worth approximately $107,567,000. Man Group plc lifted its position in shares of Penumbra by 1,862.2% during the 2nd quarter. Man Group plc now owns 206,461 shares of the company’s stock worth $52,984,000 after buying an additional 195,939 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Penumbra by 139.4% in the 2nd 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 in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Penumbra in the 3rd quarter valued at $43,476,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup decreased their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Evercore reissued an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $360.33.

Penumbra Trading Down 0.2%

Penumbra stock opened at $317.39 on Wednesday. The stock has a market cap of $12.48 billion, a PE ratio of 73.13, a P/E/G ratio of 1.97 and a beta of 0.70. The stock has a 50-day moving average price of $319.76 and a 200 day moving average price of $329.90. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01.

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 period in the prior year, the company earned $0.83 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts predict that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

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.