Capricorn Fund Managers Ltd Makes New Investment in Penumbra, Inc. $PEN

Capricorn Fund Managers Ltd purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the first quarter, Holdings Channel reports. The firm purchased 5,879 shares of the company’s stock, valued at approximately $1,930,000.

Several other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA increased its stake in shares of Penumbra by 8.9% during the first quarter. Pictet Asset Management Holding SA now owns 5,950 shares of the company’s stock valued at $1,954,000 after buying an additional 486 shares during the period. Cannon Global Investment Management LLC bought a new position in Penumbra during the 1st quarter worth about $525,000. Louisiana State Employees Retirement System purchased a new position in Penumbra during the 1st quarter valued at about $3,743,000. Fifth Third Wealth Advisors LLC increased its position in Penumbra by 8.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $437,000 after purchasing an additional 98 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in shares of Penumbra by 43.6% in the 1st quarter. AdvisorNet Financial Inc now owns 461 shares of the company’s stock valued at $151,000 after purchasing an additional 140 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEN. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reissued an “outperform” rating and issued a $335.00 price target on shares of Penumbra in a research report on Thursday, May 7th. Finally, Citigroup reduced their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Penumbra presently has an average rating of “Hold” and an average price target of $361.33.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the sale, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Penumbra Stock Performance

Shares of Penumbra stock opened at $315.56 on Wednesday. The company has a 50 day moving average price of $322.35 and a 200 day moving average price of $329.47. The firm has a market capitalization of $12.41 billion, a P/E ratio of 72.71, a PEG ratio of 1.95 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same period in the prior year, the business posted $0.83 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts expect that Penumbra, Inc. will post 5.04 EPS for the current year.

Penumbra Company 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.