Bellevue Group AG Raises Holdings in Penumbra, Inc. (NYSE:PEN)

Bellevue Group AG increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 182,125 shares of the company’s stock after purchasing an additional 2,250 shares during the quarter. Bellevue Group AG owned approximately 0.50% of Penumbra worth $49,913,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PEN. Amundi Pioneer Asset Management Inc. increased its position in shares of Penumbra by 5.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 110,746 shares of the company’s stock worth $16,280,000 after purchasing an additional 5,935 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Penumbra by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 79,846 shares of the company’s stock worth $13,975,000 after purchasing an additional 2,249 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Penumbra during the first quarter worth approximately $241,000. The PNC Financial Services Group Inc. increased its position in shares of Penumbra by 9.0% during the first quarter. The PNC Financial Services Group Inc. now owns 1,053 shares of the company’s stock worth $285,000 after purchasing an additional 87 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in shares of Penumbra during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.61% of the company’s stock.

Shares of Penumbra stock opened at $278.73 on Monday. Penumbra, Inc. has a 52 week low of $163.49 and a 52 week high of $320.00. The business’s fifty day simple moving average is $269.40 and its 200-day simple moving average is $270.93. The firm has a market cap of $10.20 billion, a PE ratio of 648.21, a price-to-earnings-growth ratio of 13.67 and a beta of 0.28. The company has a quick ratio of 3.68, a current ratio of 6.04 and a debt-to-equity ratio of 0.04.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Monday, August 9th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Penumbra had a return on equity of 5.52% and a net margin of 2.37%. The business had revenue of $184.26 million for the quarter, compared to analyst estimates of $170.77 million. During the same quarter in the prior year, the company posted ($0.30) EPS. The company’s quarterly revenue was up 75.3% on a year-over-year basis. As a group, equities analysts expect that Penumbra, Inc. will post 0.87 earnings per share for the current year.

In other Penumbra news, Director Thomas Wilder sold 161 shares of the company’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $275.09, for a total transaction of $44,289.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 14,500 shares of the company’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $280.42, for a total value of $4,066,090.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,023 shares of company stock worth $11,986,518. 7.50% of the stock is owned by corporate insiders.

Several brokerages recently commented on PEN. Citigroup boosted their price target on Penumbra from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 10th. BTIG Research upped their target price on Penumbra from $299.00 to $308.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Truist initiated coverage on Penumbra in a report on Wednesday, September 15th. They issued a “buy” rating and a $350.00 target price for the company. Truist Securities initiated coverage on Penumbra in a report on Thursday, September 16th. They issued a “buy” rating and a $350.00 target price for the company. Finally, Wells Fargo & Company restated a “buy” rating on shares of Penumbra in a report on Tuesday, June 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $324.22.

About Penumbra

Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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