Picton Mahoney Asset Management Buys Shares of 4,058 Penumbra, Inc. $PEN

Picton Mahoney Asset Management purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,058 shares of the company’s stock, valued at approximately $1,028,000.

Several other hedge funds also recently made changes to their positions in PEN. Thrivent Financial for Lutherans grew its position 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 purchasing an additional 44,185 shares in the last quarter. New York State Common Retirement Fund boosted its stake 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 buying an additional 6,642 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Penumbra by 4.0% in the 2nd quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock valued at $25,849,000 after acquiring an additional 3,906 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Penumbra by 22.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company’s stock valued at $6,827,000 after acquiring an additional 4,960 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Penumbra in the third quarter valued at about $1,900,000. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Up 0.3%

Penumbra stock opened at $340.56 on Friday. The company’s 50-day moving average price is $337.51 and its two-hundred day moving average price is $294.27. 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 stock has a market cap of $13.36 billion, a P/E ratio of 75.35, a P/E/G ratio of 2.08 and a beta of 0.81. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, March 3rd. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. The company had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PEN shares. Citigroup cut Penumbra from a “buy” rating to a “neutral” rating and increased their price target for the company from $350.00 to $374.00 in a research report on Thursday, January 15th. BTIG Research downgraded Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a report on Thursday, January 15th. UBS Group reissued a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, February 26th. JPMorgan Chase & Co. upgraded shares of Penumbra from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $275.00 to $370.00 in a report on Thursday, December 18th. Finally, Truist Financial cut shares of Penumbra from a “buy” rating to a “hold” rating and increased their price target for the company from $370.00 to $374.00 in a research note on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $361.69.

Insider Transactions at Penumbra

In other news, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the sale, the chief financial officer 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. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 17,804 shares of company stock valued at $5,580,719. Corporate 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.