Delta Global Management LP Has $418,000 Stock Holdings in Penumbra, Inc. $PEN

Delta Global Management LP decreased its holdings in Penumbra, Inc. (NYSE:PEN) by 83.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,345 shares of the company’s stock after selling 6,551 shares during the period. Delta Global Management LP’s holdings in Penumbra were worth $418,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC raised its stake in shares of Penumbra by 13.3% in the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock valued at $12,405,000 after buying an additional 5,749 shares in the last quarter. Algert Global LLC grew 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 valued at $11,621,000 after purchasing an additional 12,830 shares during the period. Citigroup Inc. grew its stake in shares of Penumbra by 75.9% in the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock valued at $8,501,000 after purchasing an additional 14,477 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Penumbra in the 3rd quarter valued at approximately $1,028,000. Finally, NZS Capital LLC grew its stake in shares of Penumbra by 24.9% in the 3rd 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 during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 0.1%

NYSE PEN opened at $318.38 on Wednesday. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The firm has a market cap of $12.52 billion, a PE ratio of 73.36, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The stock’s 50 day simple moving average is $325.20 and its 200 day simple moving average is $327.83.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the business posted $0.83 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the firm’s 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 completion of the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup lowered their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. UBS Group reiterated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Finally, Evercore restated an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Penumbra has a consensus rating of “Hold” and a consensus price target of $361.33.

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.