Delta Global Management LP Purchases Shares of 7,896 Penumbra, Inc. $PEN

Delta Global Management LP acquired a new position in Penumbra, Inc. (NYSE:PEN) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,896 shares of the company’s stock, valued at approximately $2,000,000.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. bought a new position in Penumbra in the third quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Penumbra during the second quarter worth $30,000. Rothschild Investment LLC bought a new stake in Penumbra in the 3rd quarter valued at $40,000. Covestor Ltd increased its holdings in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after buying an additional 62 shares during the period. Finally, State of Wyoming acquired a new position in shares of Penumbra in the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Down 0.0%

Shares of PEN stock opened at $336.06 on Tuesday. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The company has a market capitalization of $13.19 billion, a P/E ratio of 74.35, a P/E/G ratio of 2.06 and a beta of 0.81. The firm has a 50-day moving average price of $340.81 and a 200 day moving average price of $298.45. The company has a quick ratio of 4.29, a current ratio of 6.64 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). The firm 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%.Penumbra’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. Research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the sale, the director directly owned 8,230 shares in the company, valued at $2,573,027.20. This represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maggie Yuen sold 2,432 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the sale, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at $6,282,231.90. This represents a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,804 shares of company stock valued at $948,419 in the last three months. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PEN shares. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and lifted their target price for the company from $350.00 to $374.00 in a research report on Thursday, January 15th. Leerink Partners lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Bank of America raised their price target on shares of Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th. Finally, Needham & Company LLC cut Penumbra from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Penumbra currently has a consensus rating of “Hold” and an average target price of $361.69.

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.