Pioneer Investment Management Inc. Buys 32,564 Shares of Penumbra, Inc. (NYSE:PEN)
Pioneer Investment Management Inc. increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 37.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,066 shares of the company’s stock after buying an additional 32,564 shares during the period. Pioneer Investment Management Inc.’s holdings in Penumbra were worth $10,448,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of PEN. Ameritas Investment Partners Inc. bought a new position in Penumbra during the first quarter valued at $194,000. Mutual of America Capital Management LLC raised its position in Penumbra by 2.2% in the first quarter. Mutual of America Capital Management LLC now owns 23,088 shares of the company’s stock valued at $1,927,000 after buying an additional 500 shares during the period. Parametric Portfolio Associates LLC raised its position in Penumbra by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 36,753 shares of the company’s stock valued at $3,067,000 after buying an additional 360 shares during the period. Eagle Asset Management Inc. bought a new position in Penumbra during the first quarter valued at $15,865,000. Finally, TD Asset Management Inc. bought a new position in Penumbra during the first quarter valued at $588,000. Institutional investors own 69.01% of the company’s stock.
Penumbra, Inc. (NYSE:PEN) opened at 86.65 on Friday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 585.47 and a beta of 0.10. The stock has a 50 day moving average price of $85.39 and a 200-day moving average price of $82.26. Penumbra, Inc. has a 1-year low of $56.05 and a 1-year high of $91.00.
Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The business had revenue of $80.60 million during the quarter, compared to the consensus estimate of $77.16 million. During the same period last year, the business posted $0.01 EPS. Penumbra’s revenue was up 23.8% on a year-over-year basis. Equities analysts predict that Penumbra, Inc. will post ($0.21) earnings per share for the current year.
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Several research firms have weighed in on PEN. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. BidaskClub upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BMO Capital Markets restated a “buy” rating and set a $96.00 target price on shares of Penumbra in a report on Friday, June 16th. Finally, Canaccord Genuity restated a “buy” rating and set a $100.00 target price (up from $94.00) on shares of Penumbra in a report on Wednesday.
In related news, insider Daniel Donen Davis sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total value of $2,541,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 345 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total transaction of $29,704.50. The disclosure for this sale can be found here. Insiders sold a total of 42,345 shares of company stock valued at $3,422,645 over the last quarter. 22.00% of the stock is currently owned by company insiders.
Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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