Citizens Financial Group Inc. RI purchased a new position in shares of Penumbra, Inc. (NYSE:PEN – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,286 shares of the company’s stock, valued at approximately $9,879,000. Citizens Financial Group Inc. RI owned about 0.08% of Penumbra at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Penumbra during the 2nd quarter worth about $25,000. Larson Financial Group LLC boosted its holdings in Penumbra by 4,100.0% in the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Penumbra by 2,700.0% in 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 purchased a new position in Penumbra in the fourth quarter valued at approximately $27,000. Finally, Morse Asset Management Inc acquired a new stake in Penumbra during the fourth quarter worth approximately $39,000. 88.88% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on PEN. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Zacks Research lowered shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Evercore reissued an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $367.07.
Penumbra Stock Performance
Shares of PEN opened at $326.86 on Tuesday. The company’s 50 day simple moving average is $319.66 and its 200-day simple moving average is $328.41. The firm has a market cap of $12.88 billion, a PE ratio of 80.31, a price-to-earnings-growth ratio of 2.03 and a beta of 0.70. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01.
Penumbra (NYSE:PEN – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.28). The business had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. As a group, equities analysts predict that Penumbra, Inc. will post 5.02 EPS for the current 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.
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