Whitebox Advisors LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 445,001 shares of the company’s stock, valued at approximately $146,125,000. Penumbra comprises about 1.8% of Whitebox Advisors LLC’s holdings, making the stock its 10th biggest position.
Other institutional investors also recently modified their holdings of the company. Polar Asset Management Partners Inc. bought a new position in shares of Penumbra in the 1st quarter valued at $2,299,000. SummitTX Capital L.P. bought a new stake in Penumbra during the 1st quarter worth $9,202,000. Lazard Asset Management LLC grew its position in Penumbra by 15.5% during the 1st quarter. Lazard Asset Management LLC now owns 7,832 shares of the company’s stock worth $2,572,000 after acquiring an additional 1,052 shares during the last quarter. Sculptor Capital LP acquired a new position in Penumbra in the 1st quarter worth about $18,717,000. Finally, Kryger Capital LLC acquired a new position in Penumbra in the 1st quarter worth about $50,519,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup lowered their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Zacks Research lowered shares of Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $360.33.
Penumbra Stock Down 0.0%
Shares of PEN opened at $318.60 on Monday. The stock’s 50-day moving average price is $319.45 and its two-hundred day moving average price is $330.02. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a market capitalization of $12.53 billion, a PE ratio of 73.41, a PEG ratio of 1.98 and a beta of 0.70. 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 (NYSE:PEN – Get Free Report) last issued its quarterly 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 company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same period in the previous year, the company posted $0.83 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current 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.
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