Diversify Advisory Services LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 2,480 shares of the company’s stock, valued at approximately $792,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Penumbra by 35.8% during the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after purchasing an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Penumbra by 209.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after buying an additional 184 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Penumbra by 22.3% in the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after buying an additional 1,829 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Penumbra by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after buying an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Penumbra in the 2nd quarter valued at $1,137,000. Institutional investors own 88.88% of the company’s stock.
Wall Street Analyst Weigh In
PEN has been the topic of a number of analyst reports. Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Evercore reissued an “outperform” rating and set a $320.00 price objective 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. Citigroup lowered their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Penumbra has a consensus rating of “Hold” and a consensus target price of $367.07.
Penumbra Stock Down 0.8%
Shares of PEN opened at $324.19 on Friday. The company has a market capitalization of $12.77 billion, a P/E ratio of 79.65, a PEG ratio of 2.03 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The business’s 50 day simple moving average is $320.01 and its 200-day simple moving average is $327.72.
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 analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.
About Penumbra
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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