BlackRock Inc. boosted its position in Penumbra, Inc. (NYSE:PEN) by 4.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,815,299 shares of the company’s stock after buying an additional 81,981 shares during the quarter. BlackRock Inc. owned approximately 5.40% of Penumbra worth $159,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in PEN. Eagle Asset Management Inc. increased its position in Penumbra by 168.7% in the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock worth $44,833,000 after buying an additional 320,794 shares during the last quarter. American Century Companies Inc. purchased a new stake in Penumbra in the second quarter worth $26,824,000. Vanguard Group Inc. increased its position in Penumbra by 9.5% in the first quarter. Vanguard Group Inc. now owns 2,118,227 shares of the company’s stock worth $176,767,000 after buying an additional 183,706 shares during the last quarter. Russell Investments Group Ltd. increased its position in Penumbra by 208.0% in the second quarter. Russell Investments Group Ltd. now owns 160,033 shares of the company’s stock worth $14,043,000 after buying an additional 108,080 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Penumbra in the first quarter worth $6,960,000. 70.93% of the stock is owned by institutional investors and hedge funds.
In other Penumbra news, insider Daniel Donen Davis sold 32,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total transaction of $2,541,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total transaction of $29,704.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,243 shares of company stock valued at $6,712,509. Company insiders own 13.50% of the company’s stock.
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A number of research firms have issued reports on PEN. Zacks Investment Research raised Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Canaccord Genuity reissued a “buy” rating and issued a $100.00 target price (up from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $96.00 target price on shares of Penumbra in a research report on Friday, June 16th.
Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $80.60 million during the quarter, compared to analyst estimates of $77.16 million. Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS.
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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