Strs Ohio Lowers Holdings in Penumbra, Inc. $PEN

Strs Ohio cut its position in shares of Penumbra, Inc. (NYSE:PEN) by 33.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,794 shares of the company’s stock after selling 11,098 shares during the period. Strs Ohio’s holdings in Penumbra were worth $5,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of Penumbra by 53.0% during the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after acquiring an additional 62 shares during the last quarter. Amalgamated Bank lifted its position in shares of Penumbra by 1.9% during the third quarter. Amalgamated Bank now owns 19,420 shares of the company’s stock worth $4,919,000 after purchasing an additional 355 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Penumbra by 68.3% during the third quarter. Evergreen Capital Management LLC now owns 1,638 shares of the company’s stock valued at $415,000 after purchasing an additional 665 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Penumbra by 61.5% during the third quarter. Concurrent Investment Advisors LLC now owns 1,575 shares of the company’s stock valued at $399,000 after acquiring an additional 600 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in Penumbra during the 3rd quarter worth $129,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of NYSE PEN opened at $359.06 on Tuesday. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 85.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The firm has a 50-day simple moving average of $313.01 and a 200-day simple moving average of $274.42. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The company had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. During the same period in the prior year, the business earned $0.85 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEN. UBS Group downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Needham & Company LLC downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, January 16th. Leerink Partners cut Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Robert W. Baird reaffirmed a “neutral” rating and issued a $374.00 price objective (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. Finally, Truist Financial lowered Penumbra from a “buy” rating to a “hold” rating and increased their price objective for the company from $370.00 to $374.00 in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, Penumbra currently has an average rating of “Hold” and a consensus target price of $358.00.

Insider Buying and Selling

In other news, Director Arani Bose sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the sale, the director directly owned 258,462 shares in the company, valued at approximately $79,818,234.84. This trade represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 300 shares of Penumbra stock in a transaction on Friday, December 5th. The stock was sold at an average price of $300.13, for a total transaction of $90,039.00. Following the sale, the executive vice president owned 63,836 shares in the company, valued at $19,159,098.68. This represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,144 shares of company stock worth $10,260,127 in the last quarter. Company insiders own 5.00% of the company’s stock.

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.