SBI Okasan Asset Management Co.Ltd. Acquires New Position in Penumbra, Inc. $PEN

Key Points

• SBI Okasan Asset Management opened a new position in Penumbra during the fourth quarter, buying 6,640 shares worth about $2.09 million.
• Insiders sold shares recently, including CFO Maggie Yuen and Director Harpreet Grewal, while institutional investors still own 88.88% of the company.
• Penumbra reported better-than-expected revenue for the quarter but missed EPS estimates; analysts currently rate the stock Hold on average with a consensus target of $361.33.

SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,640 shares of the company's stock, valued at approximately $2,091,000.

Other large investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in shares of Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company's stock valued at $92,984,000 after acquiring an additional 44,185 shares during the period. Intech Investment Management LLC raised its stake in shares of Penumbra by 13.3% in the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company's stock valued at $12,405,000 after acquiring an additional 5,749 shares during the period. New York State Common Retirement Fund raised its stake in shares of Penumbra by 8.7% in the 3rd quarter. New York State Common Retirement Fund now owns 82,849 shares of the company's stock valued at $20,987,000 after acquiring an additional 6,642 shares during the period. Algert Global LLC raised its stake in shares of Penumbra by 38.8% in the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company's stock valued at $11,621,000 after acquiring an additional 12,830 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Penumbra by 75.9% in the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company's stock valued at $8,501,000 after acquiring an additional 14,477 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity

In other news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction dated 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 of the company's stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the transaction, the director directly owned 8,719 shares of the company's stock, valued at $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company's stock.

Penumbra Price Performance

PEN opened at $319.23 on Friday. The company has a 50-day moving average of $328.90 and a 200-day moving average of $324.60. The company has a market capitalization of $12.56 billion, a P/E ratio of 73.56, a PEG ratio of 1.96 and a beta of 0.74. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year 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.

Penumbra (NYSE:PEN - Get Free Report) last released its 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 the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.Penumbra's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. Equities analysts expect that Penumbra, Inc. will post 5.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEN. 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 shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Citigroup dropped their price target on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Finally, Evercore reaffirmed an "outperform" rating and set a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $361.33.

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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