Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $871,000 in Penumbra, Inc. $PEN

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,803 shares of the company’s stock, valued at approximately $871,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd boosted its position in shares of Penumbra by 53,200.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 533 shares of the company’s stock worth $166,000 after acquiring an additional 532 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Penumbra by 6.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 318,154 shares of the company’s stock worth $98,917,000 after acquiring an additional 19,244 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Penumbra by 4.1% during the 4th quarter. Natixis Advisors LLC now owns 40,772 shares of the company’s stock worth $12,676,000 after acquiring an additional 1,593 shares in the last quarter. Fielder Capital Group LLC boosted its position in shares of Penumbra by 22.2% during the 4th quarter. Fielder Capital Group LLC now owns 980 shares of the company’s stock worth $305,000 after acquiring an additional 178 shares in the last quarter. Finally, One Capital Management LLC increased its position in shares of Penumbra by 87.4% during the fourth quarter. One Capital Management LLC now owns 11,629 shares of the company’s stock worth $3,616,000 after purchasing an additional 5,425 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Performance

Shares of PEN stock opened at $320.76 on Friday. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $12.62 billion, a PE ratio of 73.91, a price-to-earnings-growth ratio of 1.96 and a beta of 0.71. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The stock’s 50-day moving average price is $327.17 and its 200 day moving average price is $326.05.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The firm had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, equities research analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. UBS Group reiterated a “neutral” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, February 26th. Citigroup cut their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Evercore reiterated an “outperform” rating and set a $335.00 target price on shares of Penumbra in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $361.33.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares in the company, valued at $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.