Generation Investment Management LLP Trims Holdings in Penumbra, Inc. (NYSE:PEN)

Generation Investment Management LLP decreased its holdings in Penumbra, Inc. (NYSE:PEN) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,726 shares of the company’s stock after selling 131,296 shares during the quarter. Generation Investment Management LLP owned about 1.27% of Penumbra worth $125,204,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. raised its position in Penumbra by 1.1% during the 1st quarter. Xponance Inc. now owns 7,038 shares of the company’s stock worth $1,904,000 after buying an additional 79 shares during the last quarter. The PNC Financial Services Group Inc. increased its holdings in shares of Penumbra by 9.0% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,053 shares of the company’s stock valued at $285,000 after purchasing an additional 87 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Penumbra by 0.9% in the 1st quarter. Arizona State Retirement System now owns 10,042 shares of the company’s stock valued at $2,717,000 after purchasing an additional 94 shares in the last quarter. Laurel Wealth Advisors Inc. increased its holdings in shares of Penumbra by 9.1% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 1,200 shares of the company’s stock valued at $210,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Penumbra by 1.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,223 shares of the company’s stock valued at $3,037,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

In related news, Director Thomas Wilder sold 161 shares of the firm’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $275.09, for a total value of $44,289.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.50% of the stock is currently owned by company insiders.

Shares of Penumbra stock traded up $0.01 during mid-day trading on Thursday, hitting $264.67. 804 shares of the stock were exchanged, compared to its average volume of 125,304. The stock has a 50-day moving average of $265.12. The company has a quick ratio of 3.48, a current ratio of 5.68 and a debt-to-equity ratio of 0.04. Penumbra, Inc. has a twelve month low of $163.49 and a twelve month high of $320.00. The company has a market cap of $9.66 billion, a PE ratio of -1,651.83, a price-to-earnings-growth ratio of 12.26 and a beta of 0.31.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.18. Penumbra had a negative net margin of 0.89% and a positive return on equity of 2.69%. The business had revenue of $169.20 million for the quarter, compared to analysts’ expectations of $152.67 million. Penumbra’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Penumbra, Inc. will post 0.93 earnings per share for the current year.

PEN has been the subject of a number of research analyst reports. BTIG Research upgraded shares of Penumbra from a “neutral” rating to a “buy” rating and set a $291.00 price target for the company in a report on Friday, June 4th. Canaccord Genuity increased their price target on shares of Penumbra from $310.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, May 5th. increased their price target on shares of Penumbra from $325.00 to $335.00 in a report on Wednesday, May 5th. Wells Fargo & Company reissued a “buy” rating on shares of Penumbra in a research note on Tuesday, June 8th. Finally, Zacks Investment Research cut shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Penumbra currently has an average rating of “Buy” and a consensus price target of $313.71.

Penumbra Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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