American International Group Inc. Boosts Stake in Penumbra Inc (PEN)

American International Group Inc. grew its position in shares of Penumbra Inc (NYSE:PEN) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 19,655 shares of the company’s stock after acquiring an additional 1,470 shares during the quarter. American International Group Inc. owned about 0.06% of Penumbra worth $1,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEN. Schwab Charles Investment Management Inc. boosted its position in shares of Penumbra by 7.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 121,352 shares of the company’s stock valued at $10,649,000 after acquiring an additional 8,749 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Penumbra by 811.1% during the 2nd quarter. First Trust Advisors LP now owns 22,113 shares of the company’s stock valued at $1,940,000 after acquiring an additional 19,686 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Penumbra by 13.5% during the 2nd quarter. Rhumbline Advisers now owns 33,007 shares of the company’s stock valued at $2,896,000 after acquiring an additional 3,923 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Penumbra by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,083 shares of the company’s stock valued at $13,082,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Penumbra by 13.6% during the 2nd quarter. Legal & General Group Plc now owns 10,164 shares of the company’s stock valued at $888,000 after acquiring an additional 1,218 shares during the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Shares of Penumbra Inc (NYSE PEN) traded down $3.95 on Wednesday, reaching $94.90. The company had a trading volume of 339,500 shares, compared to its average volume of 191,510. Penumbra Inc has a 12 month low of $62.43 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company 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 period last year, the company earned ($0.04) earnings per share. analysts anticipate that Penumbra Inc will post -0.15 EPS for the current year.

In related news, CEO Adam Elsesser sold 24,444 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,231,338 shares in the company, valued at $130,312,500.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Arani Bose sold 10,927 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $103.96, for a total value of $1,135,970.92. Following the completion of the sale, the insider now owns 639,527 shares of the company’s stock, valued at $66,485,226.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,079 shares of company stock valued at $31,150,834. 13.50% of the stock is owned by corporate insiders.

A number of research firms have recently commented on PEN. Canaccord Genuity increased their target price on Penumbra from $100.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. BMO Capital Markets raised their price target on Penumbra from $96.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.

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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.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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