Perceptive Advisors LLC reduced its position in shares of Penumbra, Inc. (NYSE:PEN – Free Report) by 49.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 110,529 shares of the company’s stock after selling 110,018 shares during the quarter. Perceptive Advisors LLC’s holdings in Penumbra were worth $34,365,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PEN. Royal Bank of Canada grew its holdings in Penumbra by 35.8% during the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after acquiring an additional 184 shares during the period. Cerity Partners LLC grew its holdings in Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after acquiring an additional 1,829 shares during the period. California Public Employees Retirement System grew its holdings in Penumbra by 7.9% during the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after acquiring an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in Penumbra during the second quarter worth about $1,137,000. 88.88% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Penumbra news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on PEN
Penumbra Trading Down 0.7%
NYSE:PEN opened at $316.18 on Thursday. 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 1-year low of $221.26 and a 1-year high of $362.41. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 72.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The stock has a fifty day simple moving average of $324.93 and a 200 day simple moving average of $327.98.
Penumbra (NYSE:PEN – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current 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.
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