Hussman Strategic Advisors Inc. Sells 8,400 Shares of Penumbra, Inc. $PEN

Key Points

• Hussman Strategic Advisors trimmed its stake in Penumbra by 66.7% in Q4, selling 8,400 shares and retaining 4,200 shares valued at $1.306 million.
• Penumbra missed EPS in the latest quarter (reported -$0.37 vs. $1.12 expected) despite a 22.2% year-over-year revenue rise to $385.4 million.
• Institutional ownership is high at 88.88%, with several large funds adding positions, while analysts collectively rate the stock a "Hold" with a consensus price target of $364.60.

Hussman Strategic Advisors Inc. trimmed its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 66.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,200 shares of the company's stock after selling 8,400 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Penumbra were worth $1,306,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEN. Holocene Advisors LP bought a new stake in Penumbra in the third quarter worth $78,585,000. Man Group plc lifted its holdings in shares of Penumbra by 1,862.2% during the second quarter. Man Group plc now owns 206,461 shares of the company's stock valued at $52,984,000 after purchasing an additional 195,939 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Penumbra by 139.4% during the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company's stock valued at $84,939,000 after purchasing an additional 192,734 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Penumbra during the third quarter valued at $43,476,000. Finally, UBS Group AG lifted its holdings in shares of Penumbra by 111.6% during the third quarter. UBS Group AG now owns 190,567 shares of the company's stock valued at $48,274,000 after purchasing an additional 100,527 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Up 0.1%

PEN stock opened at $325.61 on Monday. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The business's 50-day moving average is $334.12 and its two-hundred day moving average is $314.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 6.64. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 72.04, a P/E/G ratio of 1.99 and a beta of 0.74.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($1.49). The company had revenue of $385.39 million during the quarter, compared to analysts' expectations of $367.18 million. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. As a group, analysts forecast that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEN. Robert W. Baird reaffirmed a "neutral" rating and set a $374.00 price target (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. Citigroup downgraded Penumbra from a "buy" rating to a "neutral" rating and upped their price target for the company from $350.00 to $374.00 in a report on Thursday, January 15th. Wall Street Zen downgraded Penumbra from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. BTIG Research downgraded Penumbra from a "buy" rating to a "neutral" rating and set a $349.00 price target on the stock. in a report on Thursday, January 15th. Finally, Royal Bank Of Canada downgraded Penumbra from an "outperform" rating to a "sector perform" rating and upped their price target for the company from $355.00 to $374.00 in a report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $364.60.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the company's stock in a transaction dated 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 owned 8,719 shares in the company, valued at $2,861,750.18. This 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company's stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.00% of the company's stock.

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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