Van ECK Associates Corp lowered its stake in shares of Penumbra, Inc. (NYSE:PEN – Free Report) by 58.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,073 shares of the company’s stock after selling 2,889 shares during the quarter. Van ECK Associates Corp’s holdings in Penumbra were worth $655,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PEN. Royal Bank of Canada boosted its holdings in Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 184 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after purchasing an additional 1,829 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock valued at $15,661,000 after purchasing an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Penumbra during the second quarter valued at about $1,137,000. 88.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Evercore reissued an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $367.07.
Penumbra Stock Performance
NYSE PEN opened at $322.28 on Friday. The company has a market capitalization of $12.69 billion, a PE ratio of 79.18, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a 50-day simple moving average of $321.25 and a 200 day simple moving average of $326.29.
Penumbra (NYSE:PEN – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The company had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts predict that Penumbra, Inc. will post 4.96 EPS for the current 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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