NINE MASTS CAPITAL Ltd Acquires Shares of 23,264 Penumbra, Inc. $PEN

NINE MASTS CAPITAL Ltd bought a new position in Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,264 shares of the company’s stock, valued at approximately $7,346,000. Penumbra comprises about 0.7% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the 2nd quarter worth about $25,000. Larson Financial Group LLC grew its position in Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Penumbra by 2,700.0% during the 4th 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 in the last quarter. Motiv8 Investments LLC bought a new stake in shares of Penumbra during the fourth quarter valued at approximately $27,000. Finally, Morse Asset Management Inc bought a new stake in shares of Penumbra in the 4th quarter worth $39,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Trading Down 0.0%

Shares of NYSE:PEN opened at $326.86 on Tuesday. The stock has a 50 day moving average of $319.66 and a 200 day moving average of $328.41. The company 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) last released its 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 firm had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. During the same quarter in the previous year, the business posted $0.86 EPS. Penumbra’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts expect that Penumbra, Inc. will post 5.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PEN shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered shares of Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Evercore reaffirmed an “outperform” rating and set a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $367.07.

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.