Blair William & Co. IL trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 19.5% during the first quarter, Holdings Channel.com reports. The firm owned 9,971 shares of the company’s stock after selling 2,416 shares during the quarter. Blair William & Co. IL’s holdings in Penumbra were worth $2,698,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of PEN. Amundi Pioneer Asset Management Inc. grew its position in Penumbra by 5.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 110,746 shares of the company’s stock valued at $16,280,000 after buying an additional 5,935 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Penumbra in the 4th quarter worth approximately $219,000. US Bancorp DE boosted its holdings in shares of Penumbra by 60.5% in the fourth quarter. US Bancorp DE now owns 5,287 shares of the company’s stock valued at $925,000 after acquiring an additional 1,993 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Penumbra by 2.8% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,542 shares of the company’s stock valued at $795,000 after acquiring an additional 122 shares during the period. Finally, Aperio Group LLC raised its holdings in Penumbra by 1.0% during the fourth quarter. Aperio Group LLC now owns 5,777 shares of the company’s stock worth $1,011,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.
PEN has been the topic of several research analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Penumbra from $325.00 to $335.00 in a research report on Wednesday, May 5th. Zacks Investment Research cut shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 28th. BTIG Research raised shares of Penumbra from a “neutral” rating to a “buy” rating and set a $291.00 price target for the company in a report on Friday, June 4th. Canaccord Genuity boosted their target price on shares of Penumbra from $310.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, May 5th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Penumbra in a report on Tuesday, June 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Penumbra has a consensus rating of “Buy” and an average price target of $313.71.
Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 4th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.18. Penumbra had a negative net margin of 0.89% and a positive return on equity of 2.69%. The business had revenue of $169.20 million during the quarter, compared to the consensus estimate of $152.67 million. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts forecast that Penumbra, Inc. will post 0.93 EPS for the current year.
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands.
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