William Blair Investment Management LLC Acquires New Stake in Penumbra, Inc. $PEN

William Blair Investment Management LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 345,974 shares of the company’s stock, valued at approximately $107,567,000. William Blair Investment Management LLC owned 0.88% of Penumbra at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. Morse Asset Management Inc acquired a new position in shares of Penumbra during the fourth quarter valued at approximately $39,000. Rothschild Investment LLC acquired a new position in Penumbra in the third quarter worth approximately $40,000. Farther Finance Advisors LLC grew its position in Penumbra by 27.1% in the fourth 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 last quarter. Finally, Covestor Ltd grew its position in Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. UBS Group restated a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a research report on Thursday, February 26th. Evercore reiterated an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Penumbra presently has an average rating of “Hold” and an average target price of $361.33.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on 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 owned 8,719 shares in the company, valued at $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction 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 completion of the transaction, the chief financial officer owned 18,353 shares in the company, valued at $6,282,231.90. This trade represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.

Penumbra Stock Up 0.2%

PEN stock opened at $328.46 on Friday. 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 1 year low of $221.26 and a 1 year high of $362.41. The company has a fifty day simple moving average of $329.87 and a 200 day simple moving average of $321.78. The firm has a market cap of $12.92 billion, a PE ratio of 75.68, a PEG ratio of 2.01 and a beta of 0.74.

Penumbra (NYSE:PEN) last released its quarterly earnings data 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). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same period in the previous year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts anticipate 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.