Polar Asset Management Partners Inc. Takes Position in Penumbra, Inc. $PEN

Polar Asset Management Partners Inc. purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 6,112 shares of the company’s stock, valued at approximately $1,930,000.

Several other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Penumbra during the 2nd quarter valued at about $25,000. Larson Financial Group LLC lifted 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 worth $26,000 after acquiring an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Penumbra during the fourth quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Penumbra during the 2nd quarter worth approximately $31,000. 88.88% of the stock is currently owned by institutional investors.

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Penumbra Stock Performance

Shares of PEN opened at $323.36 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The firm’s 50 day moving average is $320.53 and its 200-day moving average is $327.04. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market capitalization of $12.74 billion, a P/E ratio of 79.45, a P/E/G ratio of 2.01 and a beta of 0.70.

Penumbra (NYSE:PEN – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. Equities research analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on PEN. Evercore restated an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $367.07.

Check Out Our Latest Stock Analysis on PEN

Penumbra Profile

(Free Report)

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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