345,974 Shares in Penumbra, Inc. $PEN Bought by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new position in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, Holdings Channel reports. The fund bought 345,974 shares of the company’s stock, valued at approximately $107,567,000.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after acquiring an additional 82 shares during the period. Morse Asset Management Inc bought a new position in shares of Penumbra during the 4th quarter worth about $39,000. Rothschild Investment LLC bought a new position in shares of Penumbra during the 3rd quarter worth about $40,000. Farther Finance Advisors LLC increased its holdings in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after purchasing an additional 38 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Penumbra by 53.0% during the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after purchasing an additional 62 shares during the period. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEN. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. UBS Group restated a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, February 26th. Citigroup dropped their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Evercore restated an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $361.33.

Insider Transactions at Penumbra

In related news, CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $328.46 on Friday. The stock has a market cap of $12.92 billion, a P/E ratio of 75.68, a PEG ratio of 2.01 and a beta of 0.74. The company’s 50-day simple moving average is $329.87 and its 200 day simple moving average is $321.78. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. As a group, research analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.