State of Alaska Department of Revenue trimmed its position in shares of Penumbra Inc (NYSE:PEN) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,280 shares of the company’s stock after selling 415 shares during the period. State of Alaska Department of Revenue’s holdings in Penumbra were worth $867,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its stake in Penumbra by 12.3% during the second quarter. UBS Asset Management Americas Inc. now owns 37,946 shares of the company’s stock worth $6,071,000 after purchasing an additional 4,160 shares in the last quarter. Great Point Partners LLC acquired a new position in Penumbra during the third quarter worth $40,347,000. BlackRock Inc. lifted its stake in Penumbra by 11.0% during the second quarter. BlackRock Inc. now owns 1,688,948 shares of the company’s stock worth $270,233,000 after purchasing an additional 167,084 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Penumbra by 8.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,623 shares of the company’s stock worth $353,000 after purchasing an additional 204 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Penumbra by 1.2% during the third quarter. California State Teachers Retirement System now owns 50,621 shares of the company’s stock worth $6,808,000 after purchasing an additional 603 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.
A number of research firms have commented on PEN. ValuEngine upgraded Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $192.00 price target on shares of Penumbra in a research note on Monday, December 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Canaccord Genuity reaffirmed a “buy” rating and set a $200.00 price objective (up previously from $175.00) on shares of Penumbra in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Penumbra from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $187.50.
Penumbra stock opened at $160.36 on Friday. Penumbra Inc has a twelve month low of $122.40 and a twelve month high of $185.70. The stock’s fifty day simple moving average is $163.04 and its 200-day simple moving average is $157.27. The company has a current ratio of 5.24, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.60 billion, a P/E ratio of 182.31, a P/E/G ratio of 7.49 and a beta of 0.73.
Penumbra (NYSE:PEN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. Penumbra had a return on equity of 7.23% and a net margin of 8.69%. The business had revenue of $139.50 million for the quarter, compared to analyst estimates of $133.98 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Sell-side analysts predict that Penumbra Inc will post 0.95 earnings per share for the current year.
In related news, CEO Adam Elsesser sold 8,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $168.70, for a total value of $1,349,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Coyne David 232,369 shares of the firm’s stock in a transaction on Wednesday, November 20th. Insiders have sold 47,452 shares of company stock worth $7,770,395 in the last ninety days. Corporate insiders own 9.60% of the company’s stock.
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
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