12,877 Shares in Penumbra, Inc. $PEN Purchased by ABC Arbitrage SA

ABC Arbitrage SA acquired a new stake in Penumbra, Inc. (NYSE:PEN) in the first quarter, HoldingsChannel.com reports. The fund acquired 12,877 shares of the company’s stock, valued at approximately $4,228,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised 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 worth $238,365,000 after acquiring an additional 18,738 shares in the last quarter. Invesco Ltd. grew 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 during the period. Artisan Partners Limited Partnership increased its holdings in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares in the last quarter. Janus Henderson Group PLC increased 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 purchasing an additional 7,050 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Penumbra by 2.6% in the fourth 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. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PEN shares. Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Evercore reiterated an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Finally, Citigroup dropped their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Three investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $360.33.

Penumbra Price Performance

PEN stock opened at $318.61 on Tuesday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The stock’s 50 day moving average price is $320.42 and its 200 day moving average price is $329.78. The firm has a market cap of $12.53 billion, a P/E ratio of 73.41, a PEG ratio of 1.97 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced 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). The firm had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. On average, sell-side analysts expect 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.