Y Intercept Hong Kong Ltd Cuts Position in Penumbra, Inc. $PEN

Y Intercept Hong Kong Ltd reduced its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 74.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,659 shares of the company’s stock after selling 16,161 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Penumbra were worth $1,434,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Invesco Ltd. boosted its position in Penumbra by 1,139.3% during the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock worth $162,571,000 after purchasing an additional 582,369 shares during the period. Norges Bank purchased a new stake in shares of Penumbra in the second quarter worth about $114,014,000. Qube Research & Technologies Ltd acquired a new stake in shares of Penumbra in the second quarter valued at about $53,818,000. Man Group plc raised its holdings in shares of Penumbra by 1,862.2% during the 2nd quarter. Man Group plc now owns 206,461 shares of the company’s stock valued at $52,984,000 after buying an additional 195,939 shares during the period. Finally, AQR Capital Management LLC lifted its position 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 in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of analyst reports. Canaccord Genuity Group lowered shares of Penumbra from a “buy” rating to a “hold” rating and lifted their price objective for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Evercore ISI reaffirmed an “outperform” rating and set a $340.00 price target on shares of Penumbra in a research note on Monday, January 5th. Truist Financial cut shares of Penumbra from a “buy” rating to a “hold” rating and upped their price objective for the company from $370.00 to $374.00 in a research report on Friday, January 16th. UBS Group downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, BTIG Research cut Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price target on the stock. in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $358.00.

Penumbra Stock Up 0.4%

Shares of Penumbra stock opened at $358.27 on Friday. The business has a 50-day moving average price of $319.08 and a 200 day moving average price of $277.26. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The firm has a market cap of $14.03 billion, a P/E ratio of 85.71, a P/E/G ratio of 2.20 and a beta of 0.71. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. On average, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In related news, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harpreet Grewal sold 186 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $227.58, for a total transaction of $42,329.88. Following the sale, the director owned 8,516 shares in the company, valued at approximately $1,938,071.28. This trade represents a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 34,144 shares of company stock valued at $10,260,127. Corporate insiders own 4.20% of the company’s stock.

Penumbra 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.