First Trust Advisors LP boosted its stake in Penumbra, Inc. (NYSE:PEN) by 118.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,328 shares of the company’s stock after purchasing an additional 26,215 shares during the period. First Trust Advisors LP owned about 0.14% of Penumbra worth $4,364,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PEN. BlackRock Inc. increased its holdings in Penumbra by 82,715.0% in the first quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock valued at $144,643,000 after purchasing an additional 1,731,225 shares during the period. Eagle Asset Management Inc. increased its holdings in Penumbra by 168.7% in the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock valued at $44,833,000 after purchasing an additional 320,794 shares during the period. American Century Companies Inc. acquired a new stake in Penumbra in the second quarter valued at $26,824,000. Russell Investments Group Ltd. increased its holdings in Penumbra by 208.0% in the second quarter. Russell Investments Group Ltd. now owns 160,033 shares of the company’s stock valued at $14,043,000 after purchasing an additional 108,080 shares during the period. Finally, State Street Corp increased its holdings in Penumbra by 13.2% in the second quarter. State Street Corp now owns 579,911 shares of the company’s stock valued at $50,887,000 after purchasing an additional 67,441 shares during the period. Institutional investors and hedge funds own 71.40% of the company’s stock.
In other Penumbra news, insider Arani Bose sold 16,452 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.89, for a total transaction of $1,742,102.28. Following the completion of the sale, the insider now directly owns 728,680 shares in the company, valued at approximately $77,159,925.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 24,444 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.83, for a total value of $2,586,908.52. Following the sale, the chief executive officer now owns 1,231,338 shares of the company’s stock, valued at $130,312,500.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,694 shares of company stock valued at $8,773,076. Company insiders own 13.50% of the company’s stock.
Shares of Penumbra, Inc. (NYSE PEN) opened at $104.55 on Friday. Penumbra, Inc. has a 1-year low of $57.85 and a 1-year high of $116.35.
Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. The firm had revenue of $83.90 million during the quarter, compared to the consensus estimate of $79.17 million. During the same period last year, the business posted ($0.04) EPS. The business’s revenue was up 24.9% compared to the same quarter last year. equities research analysts predict that Penumbra, Inc. will post -0.15 EPS for the current year.
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PEN has been the subject of a number of recent research reports. BidaskClub downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price target (up from $94.00) on shares of Penumbra in a report on Wednesday, August 9th. Zacks Investment Research downgraded Penumbra from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $96.00 price target on shares of Penumbra in a report on Friday, October 13th.
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.
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