P Schoenfeld Asset Management LP Makes New $8.27 Billion Investment in Penumbra, Inc. $PEN

P Schoenfeld Asset Management LP purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, Holdings Channel reports. The fund purchased 26,200 shares of the company’s stock, valued at approximately $8,272,650,000. Penumbra accounts for about 3.4% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Penumbra during the second quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in shares of 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 acquiring an additional 82 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Penumbra in the 4th quarter worth $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Penumbra in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Evercore restated an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Zacks Research downgraded Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. 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. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Penumbra has a consensus rating of “Hold” and an average price target of $367.07.

Penumbra Stock Down 0.0%

Shares of PEN stock opened at $325.14 on Monday. The stock has a market cap of $12.81 billion, a P/E ratio of 79.89, a PEG ratio of 2.02 and a beta of 0.70. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $320.14 and its two-hundred day simple moving average is $327.50.

Penumbra (NYSE:PEN) last released its quarterly earnings data 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 the consensus estimate of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. 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.