Motley Fool Wealth Management LLC Purchases New Shares in Penumbra, Inc. $PEN

Motley Fool Wealth Management LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,415 shares of the company’s stock, valued at approximately $8,213,000.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Penumbra by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after purchasing an additional 18,738 shares in the last quarter. Capital World Investors raised its stake in shares of Penumbra by 2.6% in the fourth quarter. Capital World Investors now owns 426,456 shares of the company’s stock valued at $132,589,000 after acquiring an additional 10,724 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Penumbra in the fourth quarter valued at $107,567,000. AQR Capital Management LLC raised its stake in shares of Penumbra by 139.4% in the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after acquiring an additional 192,734 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Penumbra by 6.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 318,154 shares of the company’s stock valued at $98,917,000 after acquiring an additional 19,244 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.3%

NYSE PEN opened at $320.94 on Wednesday. The company’s 50-day moving average price is $326.26 and its 200-day moving average price is $326.91. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The stock has a market cap of $12.62 billion, a PE ratio of 73.95, a PEG ratio of 1.96 and a beta of 0.71. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. Equities research analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the company’s 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 transaction, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. UBS Group reissued a “neutral” rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, February 26th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Finally, Evercore reissued an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Penumbra presently has an average rating of “Hold” and an average target price of $361.33.

Penumbra Company 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.