SG Americas Securities LLC Has $3.46 Million Stake in Penumbra, Inc. $PEN

Key Points

• SG Americas Securities LLC increased its stake in Penumbra by 144.4% in Q4 to 11,111 shares valued at $3.455 million, and institutional investors now own 88.88% of the company.
• Penumbra missed EPS (‑$0.37 vs. $1.12 expected) despite revenue beating estimates ($385.4M vs. $367.2M), and analysts have mostly downgraded the stock to a consensus "Hold" with an average price target of $361.69.

SG Americas Securities LLC increased its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 144.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,111 shares of the company's stock after acquiring an additional 6,564 shares during the quarter. SG Americas Securities LLC's holdings in Penumbra were worth $3,455,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in Penumbra by 1,139.3% in the second quarter. Invesco Ltd. now owns 633,485 shares of the company's stock worth $162,571,000 after purchasing an additional 582,369 shares during the period. Norges Bank acquired a new position in shares of Penumbra during the second quarter valued at about $114,014,000. Holocene Advisors LP acquired a new position in shares of Penumbra during the third quarter valued at about $78,585,000. Qube Research & Technologies Ltd bought a new position in shares of Penumbra during the 2nd quarter worth about $53,818,000. Finally, Man Group plc boosted its position in shares of Penumbra by 1,862.2% during the 2nd quarter. Man Group plc now owns 206,461 shares of the company's stock worth $52,984,000 after purchasing an additional 195,939 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analyst Weigh In

PEN has been the subject of a number of research analyst reports. Citigroup lowered Penumbra from a "buy" rating to a "neutral" rating and boosted their target price for the company from $350.00 to $374.00 in a research report on Thursday, January 15th. Wall Street Zen lowered Penumbra from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Canaccord Genuity Group cut Penumbra from a "buy" rating to a "hold" rating and raised their price objective for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Truist Financial downgraded Penumbra from a "buy" rating to a "hold" rating and boosted their price objective for the company from $370.00 to $374.00 in a report on Friday, January 16th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of "Hold" and an average price target of $361.69.

Penumbra Trading Up 0.3%

PEN opened at $330.07 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The firm has a market capitalization of $12.95 billion, a PE ratio of 73.02, a P/E/G ratio of 2.02 and a beta of 0.84. The company's 50-day moving average is $341.07 and its 200 day moving average is $303.35.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). The business had revenue of $385.39 million during the quarter, compared to the consensus estimate of $367.18 million. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. Penumbra's revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. As a group, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the transaction, the chief financial officer owned 18,353 shares of the company's stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total value of $58,151.04. Following the transaction, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is owned by company insiders.

About Penumbra

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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