Thoroughbred Financial Services LLC lifted its position in Penumbra Inc (NYSE:PEN) by 16,171.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,247,360 shares of the company’s stock after purchasing an additional 1,239,694 shares during the quarter. Thoroughbred Financial Services LLC owned about 3.59% of Penumbra worth $124,736,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in PEN. PNC Financial Services Group Inc. boosted its stake in Penumbra by 30.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 437 shares of the company’s stock worth $53,000 after buying an additional 103 shares during the period. Northern Trust Corp boosted its stake in Penumbra by 0.5% during the fourth quarter. Northern Trust Corp now owns 175,222 shares of the company’s stock worth $21,413,000 after buying an additional 953 shares during the period. Great West Life Assurance Co. Can boosted its stake in Penumbra by 15.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,739 shares of the company’s stock worth $440,000 after buying an additional 509 shares during the period. Dimensional Fund Advisors LP boosted its stake in Penumbra by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 59,538 shares of the company’s stock worth $7,277,000 after buying an additional 9,614 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Penumbra by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 287,505 shares of the company’s stock worth $35,133,000 after buying an additional 21,488 shares during the period. 86.63% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on PEN. HC Wainwright set a $11.00 target price on shares of Cerecor and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Bank of America set a $10.00 target price on shares of HEXO and gave the stock a “buy” rating in a research note on Thursday, June 13th. ValuEngine raised shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Finally, William Blair assumed coverage on shares of Penumbra in a research note on Tuesday, May 21st. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Penumbra currently has an average rating of “Buy” and an average target price of $164.17.
In related news, CEO Adam Elsesser sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $165.08, for a total value of $1,320,640.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sridhar Kosaraju sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $130.25, for a total transaction of $651,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,412 shares of company stock worth $5,931,648. 9.60% of the stock is owned by corporate insiders.
Shares of PEN traded down $1.78 during mid-day trading on Thursday, hitting $181.62. 368,044 shares of the company’s stock were exchanged, compared to its average volume of 388,869. The company has a market capitalization of $6.37 billion, a P/E ratio of 356.12, a price-to-earnings-growth ratio of 9.45 and a beta of 0.65. Penumbra Inc has a fifty-two week low of $110.84 and a fifty-two week high of $185.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.34 and a current ratio of 6.10. The company has a 50-day moving average of $166.79.
Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.10. The business had revenue of $128.44 million for the quarter, compared to analysts’ expectations of $123.09 million. Penumbra had a net margin of 2.51% and a return on equity of 5.84%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. As a group, research analysts predict that Penumbra Inc will post 0.87 EPS for the current fiscal year.
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers 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; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
Recommended Story: What is a recession?
Receive News & Ratings for Penumbra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penumbra and related companies with MarketBeat.com's FREE daily email newsletter.