NZS Capital LLC Buys 17,355 Shares of Penumbra, Inc. $PEN

NZS Capital LLC grew its stake in shares of Penumbra, Inc. (NYSE:PEN) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,984 shares of the company’s stock after buying an additional 17,355 shares during the period. NZS Capital LLC owned 0.22% of Penumbra worth $22,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its stake 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 in the last quarter. Norges Bank purchased a new stake in Penumbra in the 2nd quarter worth approximately $114,014,000. Qube Research & Technologies Ltd bought a new position in Penumbra in the 2nd quarter valued at $53,818,000. Man Group plc grew 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 valued at $52,984,000 after purchasing an additional 195,939 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Penumbra by 139.4% during the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after purchasing an additional 192,734 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEN has been the subject of several research analyst reports. Robert W. Baird reissued a “neutral” rating and set a $374.00 price objective (up from $345.00) on shares of Penumbra in a research note on Friday, January 16th. Truist Financial cut Penumbra from a “buy” rating to a “hold” rating and raised their price target for the company from $370.00 to $374.00 in a report on Friday, January 16th. Evercore reissued an “outperform” rating and set a $360.00 price objective on shares of Penumbra in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 29th. Finally, William Blair lowered shares of Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $361.69.

Penumbra Stock Performance

NYSE:PEN opened at $340.10 on Wednesday. The business has a 50 day moving average of $336.55 and a 200 day moving average of $293.62. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 75.24, a PEG ratio of 2.10 and a beta of 0.81. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The business had revenue of $385.39 million for the quarter, compared to analysts’ expectations of $367.18 million. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $0.97 earnings per share. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total transaction of $57,793.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 300 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the completion of the sale, the executive vice president owned 63,836 shares of the company’s stock, valued at $19,159,098.68. The trade was a 0.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,672 shares of company stock worth $4,838,284 in the last quarter. 5.00% of the stock is currently owned by company insiders.

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.