Quantbot Technologies LP Takes Position in Penumbra, Inc. $PEN

Quantbot Technologies LP acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,999 shares of the company’s stock, valued at approximately $631,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Penumbra in the second quarter valued at approximately $1,356,953,000. Geode Capital Management LLC lifted its position in shares of Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock worth $238,365,000 after purchasing an additional 18,738 shares during the period. Invesco Ltd. lifted its position in shares of Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after purchasing an additional 7,211 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after purchasing an additional 7,050 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEN. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore restated an “outperform” rating and set a $320.00 target price 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Penumbra has a consensus rating of “Hold” and an average target price of $367.07.

Penumbra Stock Down 0.5%

Penumbra stock opened at $321.51 on Friday. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The firm has a market capitalization 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. The firm’s fifty day moving average price is $320.62 and its two-hundred day moving average price is $326.90. 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 posted its 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 business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. During the same period in the previous year, the firm earned $0.86 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Penumbra, Inc. will post 5.02 earnings per share 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.