Arrowstreet Capital Limited Partnership Buys 226,314 Shares of Penumbra, Inc. $PEN

Arrowstreet Capital Limited Partnership boosted its stake in Penumbra, Inc. (NYSE:PEN) by 130.2% during the 1st quarter, HoldingsChannel reports. The fund owned 400,160 shares of the company’s stock after acquiring an additional 226,314 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Penumbra were worth $131,401,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Penumbra by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after purchasing an additional 18,738 shares in the last quarter. Invesco Ltd. raised its stake in shares of Penumbra by 1.1% during the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after purchasing an additional 7,211 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after purchasing an additional 370,636 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after buying an additional 7,050 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Penumbra by 2.6% in the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock valued at $132,589,000 after purchasing an additional 10,724 shares during the period. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the subject of several research reports. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a research note on Thursday, June 11th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $360.33.

Penumbra Stock Performance

NYSE:PEN opened at $318.60 on Friday. The firm has a market capitalization of $12.53 billion, a PE ratio of 73.41, a price-to-earnings-growth ratio of 1.98 and a beta of 0.70. 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 twelve month low of $221.26 and a twelve month high of $362.41. The stock’s 50-day simple moving average is $319.45 and its 200 day simple moving average is $329.92.

Penumbra (NYSE:PEN) last released its quarterly earnings data 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). The company had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.Penumbra’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, analysts anticipate that Penumbra, Inc. will post 5.02 EPS 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.