Russell Investments Group Ltd. Trims Holdings in Penumbra Inc (PEN)

Russell Investments Group Ltd. lowered its position in Penumbra Inc (NYSE:PEN) by 31.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,400 shares of the company’s stock after selling 50,633 shares during the quarter. Russell Investments Group Ltd. owned 0.32% of Penumbra worth $9,878,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PEN. Teachers Advisors LLC lifted its position in shares of Penumbra by 10.7% in the 1st quarter. Teachers Advisors LLC now owns 46,645 shares of the company’s stock worth $3,893,000 after acquiring an additional 4,515 shares during the period. Pioneer Investment Management Inc. lifted its position in shares of Penumbra by 37.6% in the 2nd quarter. Pioneer Investment Management Inc. now owns 119,066 shares of the company’s stock worth $10,448,000 after acquiring an additional 32,564 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Penumbra by 7.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,352 shares of the company’s stock worth $10,649,000 after acquiring an additional 8,749 shares during the period. First Trust Advisors LP lifted its position in shares of Penumbra by 811.1% in the 2nd quarter. First Trust Advisors LP now owns 22,113 shares of the company’s stock worth $1,940,000 after acquiring an additional 19,686 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Penumbra by 13.5% in the 2nd quarter. Rhumbline Advisers now owns 33,007 shares of the company’s stock worth $2,896,000 after acquiring an additional 3,923 shares during the period. Institutional investors own 71.71% of the company’s stock.

In related news, EVP Robert D. Evans sold 4,983 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $90.00, for a total transaction of $448,470.00. Following the completion of the sale, the executive vice president now directly owns 11,704 shares of the company’s stock, valued at approximately $1,053,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bridget O’rourke sold 429 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $106.60, for a total value of $45,731.40. The disclosure for this sale can be found here. Insiders have sold a total of 301,079 shares of company stock valued at $31,150,834 in the last 90 days. 13.50% of the stock is owned by corporate insiders.

A number of analysts have commented on PEN shares. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price objective (up previously from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th. BidaskClub upgraded Penumbra from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. BMO Capital Markets reiterated a “buy” rating and issued a $96.00 price objective on shares of Penumbra in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

Penumbra Inc (NYSE PEN) traded down $0.35 during trading on Wednesday, hitting $99.50. The company had a trading volume of 180,000 shares, compared to its average volume of 191,841. Penumbra Inc has a 1-year low of $61.40 and a 1-year high of $116.35.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, November 7th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $79.17 million. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. Penumbra’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. analysts forecast that Penumbra Inc will post -0.15 earnings per share for the current fiscal year.

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Penumbra Profile

Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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