120,815 Shares in Penumbra, Inc. $PEN Purchased by Stephens Investment Management Group LLC

Key Points

• Stephens Investment Management Group opened a new position in Penumbra, buying 120,815 shares valued at about $37.6 million, or roughly 0.31% of the company.
• Penumbra reported Q1 earnings of $0.82 per share, missing analyst expectations of $1.06, even though revenue rose 15.6% year over year to $374.8 million.
• Analysts remain cautious on the stock: the consensus rating is Hold, with an average price target of $361.33, following several recent downgrades and target adjustments.

Stephens Investment Management Group LLC acquired a new position in Penumbra, Inc. (NYSE:PEN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 120,815 shares of the company's stock, valued at approximately $37,563,000. Stephens Investment Management Group LLC owned approximately 0.31% of Penumbra at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in Penumbra in the 4th quarter worth about $39,000. Rothschild Investment LLC purchased a new stake in Penumbra in the 3rd quarter worth about $40,000. Farther Finance Advisors LLC lifted its stake in Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after acquiring an additional 38 shares in the last quarter. Covestor Ltd lifted its stake in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company's stock worth $46,000 after acquiring an additional 62 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Penumbra by 36.2% in the 3rd quarter. Allworth Financial LP now owns 241 shares of the company's stock worth $61,000 after acquiring an additional 64 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.2%

PEN opened at $322.24 on Friday. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The business has a 50-day moving average of $330.98 and a 200-day moving average of $318.56. 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 company has a market capitalization of $12.67 billion, a PE ratio of 74.25, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly 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 return on equity of 10.87% and a net margin of 11.76%.The firm had revenue of $374.76 million for the quarter, compared to analysts' expectations of $370.47 million. During the same period last year, the business earned $0.83 earnings per share. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 100 shares of the firm's 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 directly owned 8,719 shares of the company's stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares in the company, valued at $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEN. Royal Bank Of Canada downgraded Penumbra from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $355.00 to $374.00 in a research note on Tuesday, January 20th. UBS Group reaffirmed a "neutral" rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Wall Street Zen raised Penumbra to a "hold" rating in a research note on Saturday, May 9th. Canaccord Genuity Group downgraded Penumbra from a "buy" rating to a "hold" rating and raised their price target for the stock from $359.00 to $374.00 in a research note on Tuesday, January 20th. Finally, Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Three 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 stock has an average rating of "Hold" and an average price target of $361.33.

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.

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