Goldman Sachs Group Inc. Acquires 19,244 Shares of Penumbra, Inc. $PEN

Goldman Sachs Group Inc. raised its holdings in Penumbra, Inc. (NYSE:PEN) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 318,154 shares of the company’s stock after buying an additional 19,244 shares during the quarter. Goldman Sachs Group Inc. owned about 0.81% of Penumbra worth $98,917,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC grew its position in shares of Penumbra by 13.3% in the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock worth $12,405,000 after buying an additional 5,749 shares during the last quarter. Algert Global LLC grew its position in shares of Penumbra by 38.8% in the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after buying an additional 12,830 shares during the last quarter. Citigroup Inc. grew its position in shares of Penumbra by 75.9% in the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock worth $8,501,000 after buying an additional 14,477 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Penumbra in the 3rd quarter worth approximately $1,900,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of Penumbra in the 3rd quarter worth approximately $1,028,000. 88.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PEN. UBS Group reiterated a “neutral” rating and issued 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 on the stock 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 target on shares of Penumbra in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $361.33.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of Penumbra 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 transaction, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Penumbra Trading Up 0.3%

NYSE PEN opened at $320.94 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The firm has a market capitalization of $12.62 billion, a PE ratio of 73.95, a P/E/G ratio of 1.96 and a beta of 0.71. The stock’s 50 day moving average is $326.26 and its 200 day moving average is $326.91.

Penumbra (NYSE:PEN) last released 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). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The firm had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Research analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

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.