Hsbc Holdings PLC lessened its stake in Penumbra, Inc. (NYSE:PEN – Free Report) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,245 shares of the company’s stock after selling 8,928 shares during the quarter. Hsbc Holdings PLC’s holdings in Penumbra were worth $31,951,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Boussard & Gavaudan Gestion Sas purchased a new stake in shares of Penumbra during the 2nd quarter valued at $11,462,000. Beacon Pointe Advisors LLC acquired a new position in Penumbra in the second quarter valued at $348,000. Mint Tower Capital Management B.V. purchased a new stake in Penumbra during the second quarter valued at about $1,585,000. Equitable Holdings Inc. purchased a new stake in Penumbra during the second quarter valued at about $318,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Penumbra during the second quarter worth about $3,454,000. 88.88% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PEN. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Finally, Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $367.07.
Penumbra Price Performance
PEN stock opened at $322.28 on Tuesday. The firm has a market cap of $12.69 billion, a P/E 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 1 year low of $221.26 and a 1 year high of $362.41. The stock has a 50-day simple moving average of $321.38 and a 200-day simple moving average of $326.06.
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 company had revenue of $390.05 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. On average, equities analysts predict that Penumbra, Inc. will post 4.96 earnings per share for the current fiscal 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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