Rhenman & Partners Asset Management AB Buys 11,000 Shares of Penumbra, Inc. $PEN

Rhenman & Partners Asset Management AB increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 53.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,500 shares of the company’s stock after buying an additional 11,000 shares during the period. Rhenman & Partners Asset Management AB owned 0.08% of Penumbra worth $9,794,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its holdings in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 82 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 81 shares during the period. Morse Asset Management Inc bought a new stake in shares of Penumbra during the 4th quarter worth about $39,000. Rothschild Investment LLC bought a new stake in shares of Penumbra during the 3rd quarter worth about $40,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after buying an additional 38 shares during the period. Institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEN. Citigroup reduced their target price 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. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday. UBS Group reissued a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Evercore reissued an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Penumbra presently has a consensus rating of “Hold” and an average price target of $361.33.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the transaction, the director directly owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Penumbra Price Performance

Shares of NYSE:PEN opened at $318.63 on Friday. The firm has a 50 day moving average of $325.68 and a 200-day moving average of $327.33. The stock has a market capitalization of $12.53 billion, a PE ratio of 73.42, a PEG ratio of 1.95 and a beta of 0.71. 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, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41.

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

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.