Bank of New York Mellon Corp grew its holdings in Penumbra Inc (NYSE:PEN) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,882 shares of the company’s stock after purchasing an additional 2,799 shares during the period. Bank of New York Mellon Corp owned about 0.45% of Penumbra worth $13,714,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in PEN. First Trust Advisors LP grew its stake in Penumbra by 811.1% in the second quarter. First Trust Advisors LP now owns 22,113 shares of the company’s stock valued at $1,940,000 after purchasing an additional 19,686 shares during the last quarter. Eagle Asset Management Inc. grew its stake in Penumbra by 168.7% in the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock valued at $44,833,000 after purchasing an additional 320,794 shares during the last quarter. Vanguard Group Inc. grew its stake in Penumbra by 2.3% in the second quarter. Vanguard Group Inc. now owns 2,165,995 shares of the company’s stock valued at $190,066,000 after purchasing an additional 47,768 shares during the last quarter. American Century Companies Inc. purchased a new position in Penumbra in the second quarter valued at about $26,824,000. Finally, Nationwide Fund Advisors grew its stake in Penumbra by 3.1% in the third quarter. Nationwide Fund Advisors now owns 94,098 shares of the company’s stock valued at $8,497,000 after purchasing an additional 2,841 shares during the last quarter. Institutional investors and hedge funds own 71.71% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research note on Wednesday. BMO Capital Markets downgraded Penumbra from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $117.00 to $110.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Canaccord Genuity raised their price target on Penumbra from $100.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Penumbra currently has a consensus rating of “Hold” and a consensus price target of $111.50.
In related news, CEO Adam Elsesser sold 24,444 shares of Penumbra stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.83, for a total transaction of $2,586,908.52. Following the completion of the transaction, the chief executive officer now directly owns 1,231,338 shares in the company, valued at $130,312,500.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sridhar Kosaraju sold 10,900 shares of Penumbra stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.89, for a total value of $1,154,201.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 309,026 shares of company stock valued at $31,859,942. 13.50% of the stock is owned by company insiders.
Penumbra Inc (PEN) traded down $0.75 during trading on Friday, hitting $91.15. The company had a trading volume of 137,271 shares, compared to its average volume of 270,810. Penumbra Inc has a 12-month low of $67.95 and a 12-month high of $116.35. The firm has a market capitalization of $3,118.96, a P/E ratio of -414.32, a price-to-earnings-growth ratio of 98.46 and a beta of 0.16.
Penumbra (NYSE:PEN) last released its earnings results on Tuesday, November 7th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. The firm had revenue of $83.90 million during the quarter, compared to the consensus estimate of $79.17 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue was up 24.9% compared to the same quarter last year. equities analysts expect that Penumbra Inc will post -0.15 earnings per share for the current fiscal year.
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Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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