Artisan Partners Limited Partnership Cuts Stake in Penumbra Inc (PEN)
Artisan Partners Limited Partnership trimmed its position in Penumbra Inc (NYSE:PEN) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,041 shares of the company’s stock after selling 1,797 shares during the period. Artisan Partners Limited Partnership owned approximately 0.42% of Penumbra worth $12,736,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of PEN. FMR LLC increased its position in shares of Penumbra by 1.2% in the second quarter. FMR LLC now owns 5,042,974 shares of the company’s stock valued at $442,521,000 after acquiring an additional 57,801 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 47,768 shares during the last quarter. BlackRock Inc. increased its position in shares of Penumbra by 4.7% in the second quarter. BlackRock Inc. now owns 1,815,299 shares of the company’s stock valued at $159,294,000 after acquiring an additional 81,981 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Penumbra by 5.1% in the second quarter. Lord Abbett & CO. LLC now owns 1,093,621 shares of the company’s stock valued at $95,965,000 after acquiring an additional 53,109 shares during the last quarter. Finally, State Street Corp increased its position in shares of Penumbra by 13.2% in the second quarter. State Street Corp now owns 579,911 shares of the company’s stock valued at $50,887,000 after acquiring an additional 67,441 shares during the last quarter. Institutional investors own 71.71% of the company’s stock.
PEN has been the topic of a number of recent research reports. Zacks Investment Research raised Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BMO Capital Markets lifted their target price on Penumbra from $96.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, Canaccord Genuity reissued a “buy” rating and set a $100.00 price target (up previously from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th.
Shares of Penumbra Inc (NYSE PEN) traded down $0.35 during midday trading on Wednesday, reaching $99.50. The company’s stock had a trading volume of 180,000 shares, compared to its average volume of 191,841. Penumbra Inc has a 1 year low of $61.40 and a 1 year high of $116.35.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $79.17 million. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) earnings per share. equities analysts forecast that Penumbra Inc will post -0.15 EPS for the current year.
In other Penumbra news, EVP Robert D. Evans sold 2,859 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $90.00, for a total transaction of $257,310.00. Following the transaction, the executive vice president now owns 11,704 shares of the company’s stock, valued at $1,053,360. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Arani Bose sold 16,452 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.89, for a total value of $1,742,102.28. Following the transaction, the insider now directly owns 728,680 shares in the company, valued at approximately $77,159,925.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,079 shares of company stock worth $31,150,834. Company insiders own 13.50% of the company’s stock.
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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