Carret Asset Management LLC Lowers Stake in Penumbra, Inc. $PEN

by · The Markets Daily

Carret Asset Management LLC decreased its holdings in Penumbra, Inc. (NYSE:PEN – Free Report) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 72,000 shares of the company’s stock after selling 5,000 shares during the quarter. Penumbra accounts for 2.1% of Carret Asset Management LLC’s portfolio, making the stock its 7th largest position. Carret Asset Management LLC’s holdings in Penumbra were worth $22,386,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PEN. Intech Investment Management LLC grew its position in shares of Penumbra by 13.3% during the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock valued at $12,405,000 after acquiring an additional 5,749 shares during the period. Algert Global LLC increased its stake in shares of Penumbra by 38.8% in the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after purchasing an additional 12,830 shares in the last quarter. Citigroup Inc. raised its holdings in Penumbra by 75.9% in the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock worth $8,501,000 after purchasing an additional 14,477 shares during the period. Picton Mahoney Asset Management purchased a new position in Penumbra during the third quarter valued at $1,028,000. Finally, NZS Capital LLC lifted its position in Penumbra by 24.9% during the third quarter. NZS Capital LLC now owns 86,984 shares of the company’s stock valued at $22,035,000 after purchasing an additional 17,355 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PEN. Citigroup reduced their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Evercore reissued an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a report on Thursday, May 7th. Finally, UBS Group restated a “neutral” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Hold” and a consensus price target of $361.33.

View Our Latest Stock Report on Penumbra

Penumbra Trading Up 0.1%

Shares of PEN stock opened at $318.38 on Wednesday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The firm has a market capitalization of $12.52 billion, a PE ratio of 73.36, a PEG ratio of 1.95 and a beta of 0.71. The stock has a fifty day simple moving average of $325.20 and a two-hundred day simple moving average of $327.83.

Penumbra (NYSE:PEN – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, analysts predict that Penumbra, Inc. will post 5.08 EPS for the current fiscal year.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the sale, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

About Penumbra

(Free Report)

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.

Further Reading

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