Hsbc Holdings PLC Acquires Shares of 101,245 Penumbra, Inc. $PEN

Hsbc Holdings PLC acquired a new stake in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 101,245 shares of the company’s stock, valued at approximately $31,951,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada lifted its position in Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after buying an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after acquiring an additional 184 shares during the period. Cerity Partners LLC raised its stake 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 acquiring an additional 1,829 shares during the period. California Public Employees Retirement System raised its stake 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 acquiring an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Penumbra in the 2nd quarter worth about $1,137,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.5%

NYSE:PEN opened at $321.51 on Friday. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 78.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.70. Penumbra, Inc. has a twelve month low of $221.26 and a twelve 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. The stock has a fifty day simple moving average of $320.62 and a 200-day simple moving average of $326.90.

Penumbra (NYSE:PEN) last posted 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). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the prior year, the business earned $0.86 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Citigroup dropped their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Penumbra presently has a consensus rating of “Hold” and an average target price of $367.07.

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.