Los Angeles Capital Management LLC lowered its position in Penumbra, Inc. (NYSE:PEN – Free Report) by 68.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,642 shares of the company’s stock after selling 72,239 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Penumbra were worth $10,149,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PEN. Royal Bank of Canada lifted its holdings in Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after buying an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Penumbra by 209.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after buying an additional 184 shares in the last quarter. Cerity Partners LLC lifted its holdings in Penumbra by 22.3% in the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after buying an additional 1,829 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Penumbra by 7.9% in the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after buying an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Penumbra in the 2nd quarter worth $1,137,000. Institutional investors and hedge funds own 88.88% of the company’s stock.
Insider Activity at Penumbra
In other news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the transaction, the director directly owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.
Penumbra Price Performance
Penumbra (NYSE:PEN – Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same period in the prior year, the business earned $0.83 earnings per share. Penumbra’s revenue was up 15.6% on a year-over-year basis. As a group, research analysts anticipate that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have commented on PEN. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. UBS Group reissued a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Citigroup decreased their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Evercore reissued an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $361.33.
Get Our Latest Stock Analysis on Penumbra
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.
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