Credit Industriel ET Commercial Takes Position in Penumbra, Inc. $PEN

Credit Industriel ET Commercial purchased a new stake in Penumbra, Inc. (NYSE:PEN) during the first quarter, according to its most recent filing with the SEC. The firm purchased 25,817 shares of the company’s stock, valued at approximately $8,478,000. Penumbra accounts for approximately 0.7% of Credit Industriel ET Commercial’s portfolio, making the stock its 17th largest position. Credit Industriel ET Commercial owned approximately 0.07% of Penumbra at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Algert Global LLC boosted its position in shares of Penumbra by 38.8% during the third quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after purchasing an additional 12,830 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Penumbra in the 3rd quarter valued at $78,585,000. Braidwell LP increased its position in shares of Penumbra by 9.2% in the 3rd quarter. Braidwell LP now owns 141,528 shares of the company’s stock valued at $35,852,000 after buying an additional 11,900 shares in the last quarter. Integral Health Asset Management LLC raised its stake in Penumbra by 25.0% during the 3rd quarter. Integral Health Asset Management LLC now owns 50,000 shares of the company’s stock worth $12,666,000 after buying an additional 10,000 shares during the period. Finally, SG Americas Securities LLC raised its stake in Penumbra by 144.4% during the 4th quarter. SG Americas Securities LLC now owns 11,111 shares of the company’s stock worth $3,455,000 after buying an additional 6,564 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Up 0.3%

NYSE:PEN opened at $319.24 on Tuesday. 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’s 50 day moving average price is $321.32 and its two-hundred day moving average price is $329.68. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 73.57, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41.

Penumbra (NYSE:PEN) last announced its 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 net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same period in the previous year, the firm posted $0.83 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. Equities research analysts expect that Penumbra, Inc. will post 5.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PEN has been the subject of a number of research analyst reports. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Finally, Evercore restated an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $360.33.

About Penumbra

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.