Rhenman & Partners Asset Management AB Has $9.79 Million Stock Holdings in Penumbra, Inc. $PEN

Rhenman & Partners Asset Management AB increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 53.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,500 shares of the company’s stock after purchasing an additional 11,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Penumbra were worth $9,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Penumbra by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock worth $238,365,000 after acquiring an additional 18,738 shares during the last quarter. Capital World Investors grew its holdings in Penumbra by 2.6% during the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock worth $132,589,000 after acquiring an additional 10,724 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Penumbra during the 4th quarter worth approximately $107,567,000. AQR Capital Management LLC grew its holdings in Penumbra by 139.4% during the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after acquiring an additional 192,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Penumbra by 9.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 324,789 shares of the company’s stock worth $100,986,000 after acquiring an additional 28,205 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Up 0.1%

Shares of NYSE PEN opened at $318.63 on Friday. The firm has a market cap of $12.53 billion, a PE ratio of 73.42, a P/E/G ratio of 1.95 and a beta of 0.71. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The company’s fifty day simple moving average is $325.68 and its 200 day simple moving average is $327.33. 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 issued its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 earnings per share. As a group, sell-side analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEN shares. Evercore reissued an “outperform” rating and set a $335.00 target price on shares of Penumbra in a report on Thursday, May 7th. UBS Group reissued a “neutral” rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, February 26th. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $361.33.

Penumbra Company Profile

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.