3,550 Shares in Penumbra, Inc. $PEN Bought by Radnor Capital Management LLC

Key Points

• Radnor Capital Management opened a new position in Penumbra, buying 3,550 shares valued at about $1.104 million in the fourth quarter.
• Institutional ownership remains very high, with 88.88% of Penumbra stock held by institutional investors; several other funds also increased their stakes.
• Penumbra reported Q1 earnings of $0.82 per share, missing estimates, while revenue of $374.76 million beat expectations and rose 15.6% year over year.

Radnor Capital Management LLC purchased a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,550 shares of the company's stock, valued at approximately $1,104,000.

A number of other hedge funds have also bought and sold shares of PEN. Royal Bank of Canada lifted its holdings in Penumbra by 35.8% during the first quarter. Royal Bank of Canada now owns 19,332 shares of the company's stock worth $5,169,000 after acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock valued at $70,000 after buying an additional 184 shares during the period. Cerity Partners LLC raised its stake in shares of Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company's stock valued at $2,574,000 after buying an additional 1,829 shares during the period. California Public Employees Retirement System raised its stake in shares of Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company's stock valued at $15,661,000 after buying an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Penumbra in the second quarter valued at $1,137,000. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEN has been the topic of several research reports. Wall Street Zen upgraded Penumbra to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada lowered Penumbra from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th. Canaccord Genuity Group lowered Penumbra from a "buy" rating to a "hold" rating and boosted their target price for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Evercore restated an "outperform" rating and issued a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. Finally, UBS Group restated a "neutral" rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of "Hold" and an average target price of $361.33.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of Penumbra 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 transaction, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction 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 owned 18,353 shares of the company's stock, valued at approximately $6,282,231.90. This trade represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.

Penumbra Price Performance

Shares of NYSE PEN opened at $326.26 on Tuesday. The stock has a market cap of $12.83 billion, a PE ratio of 75.17, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week 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. The stock has a fifty day moving average of $330.69 and a 200-day moving average of $319.70.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million during the quarter, compared to analysts' expectations of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Equities research analysts anticipate that Penumbra, Inc. will post 5.08 earnings per share 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.

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