Penumbra, Inc. $PEN Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia grew its position in Penumbra, Inc. (NYSE:PEN) by 14,837.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 211,820 shares of the company’s stock after purchasing an additional 210,402 shares during the period. Bank of Nova Scotia’s holdings in Penumbra were worth $69,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEN. Larson Financial Group LLC lifted its stake in Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Penumbra during the 4th quarter worth approximately $27,000. Morse Asset Management Inc purchased a new position in shares of Penumbra during the fourth quarter worth about $39,000. Finally, Farther Finance Advisors LLC increased its position in Penumbra by 27.1% during 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 period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEN. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Finally, Evercore reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $360.33.

Penumbra Stock Performance

Shares of PEN stock opened at $318.60 on Friday. The company’s 50-day simple moving average is $319.45 and its 200-day simple moving average is $329.92. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 1.97 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $370.47 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

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.