Janus Henderson Group PLC Sells 308,844 Shares of Penumbra, Inc. $PEN

Key Points

• Janus Henderson cut its Penumbra stake by 64.9% in the first quarter, selling 308,844 shares and retaining 167,054 shares worth approximately $54.8 million. Institutional investors collectively own 88.88% of the company.
• Analyst sentiment is mostly neutral: 13 analysts rate Penumbra “Hold,” compared with three “Buy” and one “Sell” ratings. The consensus price target is $367.07.
• Penumbra’s latest quarterly revenue rose 14.9% year over year to $390.05 million, slightly exceeding estimates, but earnings of $0.88 per share missed the $1.16 consensus forecast.

Janus Henderson Group PLC trimmed its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 64.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,054 shares of the company's stock after selling 308,844 shares during the quarter. Janus Henderson Group PLC owned 0.42% of Penumbra worth $54,849,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Penumbra by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company's stock valued at $238,365,000 after acquiring an additional 18,738 shares in the last quarter. Invesco Ltd. boosted its holdings in Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company's stock valued at $198,455,000 after purchasing an additional 7,211 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock valued at $184,715,000 after purchasing an additional 370,636 shares in the last quarter. Whitebox Advisors LLC bought a new position in shares of Penumbra in the first quarter worth $146,125,000. Finally, Capital World Investors raised its position in shares of Penumbra by 2.6% in the fourth quarter. Capital World Investors now owns 426,456 shares of the company's stock worth $132,589,000 after buying an additional 10,724 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PEN shares. Wall Street Zen upgraded Penumbra to a "hold" rating in a research note on Saturday, May 9th. Zacks Research cut shares of Penumbra from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Citigroup decreased their price target on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Penumbra has an average rating of "Hold" and a consensus target price of $367.07.

Penumbra Price Performance

Shares of Penumbra stock opened at $321.40 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a fifty day moving average of $318.75 and a 200-day moving average of $330.03. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 78.97, a price-to-earnings-growth ratio of 1.99 and a beta of 0.70.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a return on equity of 10.70% and a net margin of 10.67%.The business had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The business's revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts expect that Penumbra, Inc. will post 5.02 EPS 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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