Oak Ridge Investments LLC lowered its holdings in Penumbra, Inc. (NYSE:PEN) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,329 shares of the company’s stock after selling 12,387 shares during the period. Oak Ridge Investments LLC owned approximately 0.73% of Penumbra worth $21,440,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of PEN. BlackRock Inc. raised its position in shares of 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. raised its position in shares of 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. bought a new stake in shares of Penumbra in the second quarter valued at approximately $26,824,000. FMR LLC raised its position in shares of Penumbra by 5.0% in the first quarter. FMR LLC now owns 4,985,173 shares of the company’s stock valued at $416,013,000 after purchasing an additional 238,594 shares during the period. Finally, Stephens Investment Management Group LLC bought a new stake in shares of Penumbra in the first quarter valued at approximately $15,971,000. 70.93% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the stock. BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price target on shares of Penumbra in a research report on Friday, June 16th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $100.00 price target (up previously from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th.
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Shares of Penumbra, Inc. (NYSE PEN) traded up 0.994% during trading on Monday, reaching $88.925. 22,528 shares of the company traded hands. Penumbra, Inc. has a 52 week low of $56.05 and a 52 week high of $91.00. The company’s 50-day moving average price is $84.81 and its 200-day moving average price is $83.99. The company has a market capitalization of $3.00 billion, a P/E ratio of 600.845 and a beta of 0.09.
Penumbra (NYSE:PEN) last released its earnings results on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The company had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. During the same quarter last year, the business earned $0.01 EPS. The firm’s revenue was up 23.8% compared to the same quarter last year. Equities research analysts forecast that Penumbra, Inc. will post ($0.21) EPS for the current fiscal year.
In other Penumbra news, Director Harpreet Grewal sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $82.65, for a total transaction of $371,925.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 345 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $86.10, for a total transaction of $29,704.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,845 shares of company stock worth $3,794,570. 22.00% of the stock is owned by company insiders.
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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