Next Century Growth Investors LLC Cuts Stock Holdings in Penumbra, Inc. $PEN

Next Century Growth Investors LLC trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,830 shares of the company’s stock after selling 4,098 shares during the quarter. Next Century Growth Investors LLC owned 0.12% of Penumbra worth $14,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC boosted its stake in shares of Penumbra by 13.3% in the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock worth $12,405,000 after buying an additional 5,749 shares during the last quarter. Algert Global LLC boosted its stake in shares of Penumbra by 38.8% in the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after buying an additional 12,830 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Penumbra by 75.9% in the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock worth $8,501,000 after buying an additional 14,477 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in Penumbra in the third quarter valued at approximately $1,028,000. Finally, NZS Capital LLC lifted its stake in Penumbra by 24.9% in the third quarter. NZS Capital LLC now owns 86,984 shares of the company’s stock valued at $22,035,000 after purchasing an additional 17,355 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEN shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday. UBS Group reiterated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Evercore reiterated an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a research note on Thursday, May 7th. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $361.33.

Insider Activity

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the sale, the director owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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

Penumbra stock opened at $318.63 on Friday. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. 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 business’s 50 day simple moving average is $325.68 and its 200 day simple moving average is $327.33. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 73.42, a PEG ratio of 1.95 and a beta of 0.71.

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