Penumbra, Inc. $PEN Stake Raised by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Penumbra, Inc. (NYSE:PEN) by 2,993.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,467 shares of the company’s stock after acquiring an additional 9,161 shares during the quarter. Fifth Third Bancorp’s holdings in Penumbra were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Penumbra by 2,700.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in Penumbra during the fourth quarter valued at approximately $27,000. Morse Asset Management Inc bought a new stake in Penumbra during the fourth quarter worth approximately $39,000. Finally, Farther Finance Advisors LLC grew its position in Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after buying an additional 38 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PEN. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Citigroup decreased their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Zacks Research lowered Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Finally, Evercore reaffirmed an “outperform” rating and set a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Penumbra currently has a consensus rating of “Hold” and a consensus price target of $360.33.

Penumbra Price Performance

Shares of NYSE:PEN opened at $318.51 on Monday. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The business has a fifty day simple moving average of $319.94 and a 200 day simple moving average of $329.83. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 73.39, a P/E/G ratio of 1.97 and a beta of 0.70.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 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 firm had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter last year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, sell-side analysts predict that Penumbra, Inc. will post 5.04 earnings per share for the current fiscal 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.