Clearbridge Investments LLC lifted its stake in Penumbra Inc (NYSE:PEN) by 0.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 318,089 shares of the company’s stock after purchasing an additional 1,037 shares during the quarter. Clearbridge Investments LLC owned 0.94% of Penumbra worth $29,932,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Penumbra by 8.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 131,584 shares of the company’s stock valued at $11,883,000 after purchasing an additional 10,232 shares during the period. American International Group Inc. boosted its position in Penumbra by 8.1% during the 3rd quarter. American International Group Inc. now owns 19,655 shares of the company’s stock worth $1,775,000 after acquiring an additional 1,470 shares during the period. Carillon Tower Advisers Inc. acquired a new stake in Penumbra during the 4th quarter worth about $33,998,000. Nationwide Fund Advisors boosted its position in Penumbra by 3.1% during the 3rd quarter. Nationwide Fund Advisors now owns 94,098 shares of the company’s stock worth $8,497,000 after acquiring an additional 2,841 shares during the period. Finally, First Trust Advisors LP boosted its position in Penumbra by 118.6% during the 3rd quarter. First Trust Advisors LP now owns 48,328 shares of the company’s stock worth $4,364,000 after acquiring an additional 26,215 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.
Shares of Penumbra stock opened at $120.60 on Friday. The stock has a market cap of $4,041.11, a PE ratio of -12,060.00, a PEG ratio of 43.05 and a beta of 0.01. Penumbra Inc has a 52-week low of $77.75 and a 52-week high of $127.40.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. The business had revenue of $96.05 million during the quarter, compared to analyst estimates of $87.69 million. Penumbra had a negative return on equity of 0.23% and a net margin of 1.40%. sell-side analysts anticipate that Penumbra Inc will post 0.14 earnings per share for the current year.
In related news, Director Don W. Kassing sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $100.94, for a total value of $201,880.00. Following the transaction, the director now directly owns 2,648 shares of the company’s stock, valued at approximately $267,289.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Donen Davis sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $88.80, for a total value of $2,664,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $6,062,277. 13.50% of the stock is owned by corporate insiders.
PEN has been the subject of a number of research reports. BMO Capital Markets lowered Penumbra from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $117.00 to $110.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. JPMorgan Chase lowered Penumbra from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Canaccord Genuity restated a “buy” rating and set a $113.00 price objective on shares of Penumbra in a research report on Wednesday, January 24th. Finally, William Blair initiated coverage on Penumbra in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $130.75.
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Penumbra Company Profile
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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