Royce & Associates LP raised its stake in shares of Penumbra Inc (NYSE:PEN) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Royce & Associates LP’s holdings in Penumbra were worth $1,355,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Penumbra by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock valued at $102,000 after purchasing an additional 114 shares during the period. Verition Fund Management LLC acquired a new position in shares of Penumbra in the 2nd quarter valued at approximately $213,000. Teacher Retirement System of Texas acquired a new position in shares of Penumbra in the 3rd quarter valued at approximately $214,000. Ameritas Investment Partners Inc. grew its position in shares of Penumbra by 10.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the company’s stock valued at $226,000 after purchasing an additional 250 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of Penumbra in the 2nd quarter valued at approximately $252,000. Institutional investors own 71.71% of the company’s stock.
Several equities analysts recently issued reports on the company. BMO Capital Markets lowered Penumbra from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $117.00 to $110.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Canaccord Genuity boosted their price objective on Penumbra from $100.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.
Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $79.17 million. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. Penumbra’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS. equities research analysts expect that Penumbra Inc will post -0.15 EPS for the current fiscal year.
In other Penumbra news, CFO Sridhar Kosaraju sold 6,026 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $103.83, for a total value of $625,679.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert D. Evans sold 1,586 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $90.00, for a total value of $142,740.00. Following the completion of the sale, the executive vice president now owns 11,704 shares in the company, valued at approximately $1,053,360. The disclosure for this sale can be found here. Insiders sold a total of 293,237 shares of company stock worth $30,445,054 in the last 90 days. Company insiders own 13.50% of the company’s stock.
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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.
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