Stephens Investment Management Group LLC Acquires New Holdings in Penumbra, Inc. $PEN

Stephens Investment Management Group LLC acquired a new stake in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, Holdings Channel.com reports. The firm acquired 120,815 shares of the company’s stock, valued at approximately $37,563,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its holdings in Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after buying an additional 44,185 shares during the last quarter. AQR Capital Management LLC grew its holdings in Penumbra by 139.4% in the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after buying an additional 192,734 shares during the last quarter. Holocene Advisors LP acquired a new stake in Penumbra in the 3rd quarter valued at approximately $78,585,000. Dimensional Fund Advisors LP grew its holdings in Penumbra by 41.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 296,584 shares of the company’s stock valued at $75,126,000 after buying an additional 86,335 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Penumbra by 26.7% in the 2nd quarter. Bank of America Corp DE now owns 263,627 shares of the company’s stock valued at $67,655,000 after buying an additional 55,551 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE:PEN opened at $322.24 on Friday. 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 $12.67 billion, a PE ratio of 74.25, a PEG ratio of 1.97 and a beta of 0.74. The business’s 50 day moving average is $330.98 and its 200-day moving average is $318.56. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) 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 firm had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same period in the previous year, the business posted $0.83 EPS. Penumbra’s revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on PEN. Canaccord Genuity Group lowered Penumbra from a “buy” rating to a “hold” rating and raised their target price for the company from $359.00 to $374.00 in a report on Tuesday, January 20th. Royal Bank Of Canada lowered Penumbra from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $355.00 to $374.00 in a report on Tuesday, January 20th. Evercore reaffirmed an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a report on Thursday, May 7th. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Citigroup lowered their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $361.33.

Insider Activity at Penumbra

In other news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. This trade represents a 11.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the sale, the director directly owned 8,719 shares in the company, valued at $2,861,750.18. The trade was a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by company insiders.

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.