Legal & General Group Plc Raises Position in Penumbra, Inc. (NYSE:PEN)

Legal & General Group Plc increased its position in Penumbra, Inc. (NYSE:PEN) by 43.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,946 shares of the company’s stock after buying an additional 2,717 shares during the period. Legal & General Group Plc’s holdings in Penumbra were worth $747,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEN. Pioneer Investment Management Inc. increased its position in shares of Penumbra by 27.9% in the first quarter. Pioneer Investment Management Inc. now owns 86,502 shares of the company’s stock worth $7,219,000 after buying an additional 18,873 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Penumbra by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 36,753 shares of the company’s stock worth $3,067,000 after buying an additional 360 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Penumbra during the first quarter worth approximately $15,865,000. TD Asset Management Inc. bought a new position in shares of Penumbra during the first quarter worth approximately $588,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Penumbra by 126.4% in the first quarter. UBS Asset Management Americas Inc. now owns 15,716 shares of the company’s stock worth $1,312,000 after buying an additional 8,773 shares during the last quarter. Hedge funds and other institutional investors own 69.43% of the company’s stock.

Penumbra, Inc. (NYSE PEN) traded down 1.42% on Friday, reaching $83.15. The company had a trading volume of 166,693 shares. The firm has a 50 day moving average price of $85.06 and a 200-day moving average price of $82.68. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 561.82 and a beta of 0.10. Penumbra, Inc. has a 12 month low of $56.05 and a 12 month high of $91.00.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $80.60 million for the quarter, compared to analyst estimates of $77.16 million. Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. Analysts forecast that Penumbra, Inc. will post ($0.21) earnings per share for the current fiscal year.

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A number of research analysts have issued reports on the company. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. BidaskClub upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BMO Capital Markets restated a “buy” rating and issued a $96.00 price objective on shares of Penumbra in a report on Friday, June 16th. Finally, Canaccord Genuity restated a “buy” rating and issued a $100.00 price objective (up previously from $94.00) on shares of Penumbra in a report on Wednesday, August 9th.

In other news, EVP Robert D. Evans sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $85.15, for a total value of $851,500.00. Following the sale, the executive vice president now directly owns 11,704 shares in the company, valued at $996,595.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total value of $29,704.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,345 shares of company stock worth $3,422,645. Corporate insiders own 22.00% of the company’s stock.

Penumbra Company 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.