Legal & General Group Plc Buys Shares of 64,912 Penumbra, Inc. $PEN

Legal & General Group Plc bought a new position in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 64,912 shares of the company’s stock, valued at approximately $20,496,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Penumbra during the second quarter valued at $1,356,953,000. Whitebox Advisors LLC purchased a new stake in Penumbra in the first quarter worth about $146,125,000. Artisan Partners Limited Partnership grew its holdings in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after acquiring an additional 370,636 shares in the last quarter. William Blair Investment Management LLC bought a new position in Penumbra during the 4th quarter worth about $107,567,000. Finally, Amundi increased its position in Penumbra by 302.9% during the 1st quarter. Amundi now owns 345,758 shares of the company’s stock valued at $113,537,000 after purchasing an additional 259,936 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Up 0.2%

PEN stock opened at $321.58 on Friday. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The stock has a market capitalization of $12.67 billion, a PE ratio of 79.01, a price-to-earnings-growth ratio of 1.99 and a beta of 0.70. The firm has a 50 day moving average of $320.71 and a 200 day moving average of $326.86.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (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 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 posted $0.86 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Evercore reaffirmed an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Penumbra has a consensus rating of “Hold” and a consensus 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.