Artisan Partners Limited Partnership Has $12.37 Million Holding in Penumbra Inc (PEN)

Artisan Partners Limited Partnership Has $12.37 Million Holding in Penumbra Inc (PEN)

Artisan Partners Limited Partnership decreased its stake in Penumbra Inc (NYSE:PEN) by 4.7% during the first quarter, Holdings Channel reports. The institutional investor owned 148,180 shares of the company’s stock after selling 7,272 shares during the period. Artisan Partners Limited Partnership’s holdings in Penumbra were worth $12,366,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Champlain Investment Partners LLC acquired a new position in shares of Penumbra during the fourth quarter valued at $19,729,000. Eagle Asset Management Inc. acquired a new position in shares of Penumbra during the first quarter valued at $15,865,000. Federated Investors Inc. PA boosted its position in shares of Penumbra by 52.9% in the fourth quarter. Federated Investors Inc. PA now owns 519,940 shares of the company’s stock valued at $33,172,000 after buying an additional 179,890 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Penumbra by 42.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 348,194 shares of the company’s stock valued at $26,459,000 after buying an additional 103,285 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Penumbra by 1.9% in the fourth quarter. FMR LLC now owns 4,746,579 shares of the company’s stock valued at $302,831,000 after buying an additional 88,389 shares in the last quarter. 57.64% of the stock is owned by institutional investors.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $73.21 million for the quarter, compared to the consensus estimate of $71.08 million. Penumbra had a net margin of 0.61% and a return on equity of 0.61%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 EPS.

PEN has been the subject of several research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 price target on shares of Penumbra in a research note on Monday, March 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $86.00 price target on shares of Penumbra in a research note on Tuesday, April 11th. Finally, Zacks Investment Research cut shares of Penumbra from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th.

In other news, EVP Robert D. Evans sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $85.24, for a total transaction of $852,400.00. Following the completion of the sale, the executive vice president now owns 12,075 shares in the company, valued at $1,029,273. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 22.00% of the company’s stock.

About Penumbra

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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