Penumbra, Inc. $PEN Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in shares of Penumbra, Inc. (NYSE:PEN) by 76.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,721 shares of the company’s stock after selling 37,250 shares during the period. Intech Investment Management LLC’s holdings in Penumbra were worth $3,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Penumbra during the 4th quarter valued at approximately $39,000. Rothschild Investment LLC acquired a new stake in shares of Penumbra during the 3rd quarter valued at approximately $40,000. Farther Finance Advisors LLC lifted its position in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after acquiring an additional 38 shares during the period. Finally, Allworth Financial LP raised its position in shares of Penumbra by 36.2% during the 3rd quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after purchasing an additional 64 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Trading Up 0.1%

Shares of PEN opened at $318.75 on Tuesday. The stock has a fifty day moving average of $328.12 and a two-hundred day moving average of $325.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The company has a market capitalization of $12.54 billion, a PE ratio of 73.44, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

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 the consensus estimate of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. As a group, analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEN. UBS Group restated a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a research report on Thursday, February 26th. Citigroup cut their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Finally, Evercore restated an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Penumbra presently has an average rating of “Hold” and a consensus target price of $361.33.

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.