SG Americas Securities LLC Decreases Holdings in Penumbra, Inc. (NYSE:PEN)

SG Americas Securities LLC lessened its position in Penumbra, Inc. (NYSE:PEN) by 51.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,833 shares of the company’s stock after selling 3,995 shares during the period. SG Americas Securities LLC’s holdings in Penumbra were worth $910,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FMR LLC lifted its position in Penumbra by 2.1% during the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after acquiring an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after acquiring an additional 264,122 shares during the period. State Street Corp grew its holdings in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after acquiring an additional 3,863 shares during the period. RTW Investments LP lifted its position in shares of Penumbra by 7.2% during the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after acquiring an additional 53,645 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after buying an additional 375,684 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Performance

Penumbra stock opened at $270.40 on Wednesday. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.89. The firm’s 50 day simple moving average is $248.60 and its 200 day simple moving average is $216.83. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.38 billion, a PE ratio of 314.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. During the same quarter last year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

PEN has been the subject of a number of research reports. Citigroup lifted their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. BTIG Research raised their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Oppenheimer started coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. Finally, Canaccord Genuity Group upped their target price on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.36.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.74, for a total transaction of $143,844.00. Following the transaction, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at $15,353,908.56. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,819 shares of company stock valued at $8,129,483 in the last three months. Company insiders own 5.00% of the company’s stock.

Penumbra Company Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.