TD Asset Management Inc Decreases Stake in Penumbra, Inc. $PEN

TD Asset Management Inc reduced its stake in shares of Penumbra, Inc. (NYSE:PEN) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,154 shares of the company’s stock after selling 9,374 shares during the quarter. TD Asset Management Inc owned about 0.23% of Penumbra worth $27,408,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Penumbra by 6.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 318,154 shares of the company’s stock worth $98,917,000 after acquiring an additional 19,244 shares during the last quarter. Natixis Advisors LLC increased its stake in Penumbra by 4.1% during the fourth quarter. Natixis Advisors LLC now owns 40,772 shares of the company’s stock worth $12,676,000 after acquiring an additional 1,593 shares during the last quarter. Fielder Capital Group LLC increased its stake in Penumbra by 22.2% during the fourth quarter. Fielder Capital Group LLC now owns 980 shares of the company’s stock worth $305,000 after acquiring an additional 178 shares during the last quarter. One Capital Management LLC increased its stake in Penumbra by 87.4% during the fourth quarter. One Capital Management LLC now owns 11,629 shares of the company’s stock worth $3,616,000 after acquiring an additional 5,425 shares during the last quarter. Finally, Norges Bank bought a new stake in Penumbra during the fourth quarter worth approximately $33,041,000. 88.88% of the stock is owned by institutional investors.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed 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 company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEN shares. UBS Group reissued a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Evercore reissued an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a research note on Thursday, May 7th. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Finally, Citigroup cut their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $361.33.

Penumbra Trading Down 0.0%

PEN opened at $320.51 on Monday. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 73.85, a P/E/G ratio of 1.96 and a beta of 0.71. The stock’s 50 day moving average price is $326.86 and its 200-day moving average price is $326.35. Penumbra, Inc. has a one year low of $221.26 and a one year 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.

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 business had revenue of $374.76 million for 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 company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. On average, equities analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

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.