Goldman Sachs Group Inc. Boosts Stake in Penumbra Inc (NYSE:PEN)

Goldman Sachs Group Inc. lifted its holdings in Penumbra Inc (NYSE:PEN) by 57.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 260,161 shares of the company’s stock after purchasing an additional 95,376 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Penumbra were worth $42,736,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Municipal Employees Retirement System of Michigan boosted its stake in shares of Penumbra by 1.2% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 5,940 shares of the company’s stock valued at $976,000 after buying an additional 70 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Penumbra by 2.5% in the fourth quarter. Raymond James & Associates now owns 2,982 shares of the company’s stock valued at $490,000 after buying an additional 73 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Penumbra by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,393 shares of the company’s stock valued at $1,379,000 after buying an additional 82 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Penumbra by 1.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the company’s stock valued at $1,281,000 after buying an additional 100 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Penumbra by 73.5% in the fourth quarter. Advisor Group Inc. now owns 281 shares of the company’s stock valued at $46,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

PEN opened at $146.96 on Thursday. The business’s fifty day moving average is $171.99 and its two-hundred day moving average is $161.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.41 and a current ratio of 5.09. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 148.55 and a beta of 0.75. Penumbra Inc has a one year low of $121.80 and a one year high of $194.93.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. The company had revenue of $145.26 million for the quarter, compared to the consensus estimate of $141.64 million. Penumbra had a return on equity of 7.72% and a net margin of 8.85%. On average, analysts predict that Penumbra Inc will post 1.21 EPS for the current fiscal year.

In other news, CEO Adam Elsesser sold 8,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $172.01, for a total value of $1,376,080.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bridget O’rourke sold 163 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $172.50, for a total value of $28,117.50. The disclosure for this sale can be found here. Insiders sold 39,920 shares of company stock worth $7,049,866 over the last 90 days. Company insiders own 9.60% of the company’s stock.

A number of research firms have commented on PEN. Zacks Investment Research upgraded Penumbra from a “hold” rating to a “strong-buy” rating and set a $197.00 target price on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on Penumbra from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity reiterated a “buy” rating and set a $200.00 target price (up from $175.00) on shares of Penumbra in a research report on Wednesday, December 4th. ValuEngine upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Citigroup began coverage on Penumbra in a research report on Wednesday, March 4th. They set a “buy” rating and a $200.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $193.43.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

Further Reading: Municipal Bonds

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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