Next Century Growth Investors LLC Reduces Stock Position in Penumbra, Inc. $PEN

Next Century Growth Investors LLC lowered its stake in shares of Penumbra, Inc. (NYSE:PEN) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,830 shares of the company’s stock after selling 4,098 shares during the period. Next Century Growth Investors LLC’s holdings in Penumbra were worth $14,871,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PEN. Larson Financial Group LLC increased its holdings in shares of Penumbra by 4,100.0% in the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 82 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Morse Asset Management Inc bought a new position in shares of Penumbra in the fourth quarter worth $39,000. Rothschild Investment LLC bought a new position in shares of Penumbra in the third quarter worth $40,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Penumbra by 27.1% in the fourth 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. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup decreased their price target 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. UBS Group reaffirmed a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Finally, Evercore reaffirmed an “outperform” rating and issued a $335.00 price target 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of “Hold” and an average price target of $361.33.

Penumbra Stock Up 0.1%

PEN opened at $318.63 on Friday. The stock 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. 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, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The business’s fifty day simple moving average is $325.68 and its 200 day simple moving average is $327.33.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The firm 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 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 EPS. As a group, research analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.