Harvest Management LLC Increases Stock Holdings in Penumbra, Inc. $PEN

Harvest Management LLC increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 219.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,487 shares of the company’s stock after purchasing an additional 39,487 shares during the period. Penumbra makes up about 7.1% of Harvest Management LLC’s portfolio, making the stock its 4th biggest holding. Harvest Management LLC’s holdings in Penumbra were worth $18,152,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Penumbra during the 2nd quarter worth $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 worth $26,000 after purchasing an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Penumbra by 2,700.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Motiv8 Investments LLC bought a new position in shares of Penumbra during the fourth quarter worth approximately $27,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Penumbra in the second quarter valued at approximately $31,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Up 0.2%

Shares of NYSE PEN opened at $321.58 on Friday. The company has a 50 day simple moving average of $320.71 and a 200 day simple moving average of $326.86. The firm has a market cap 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. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86.

Penumbra (NYSE:PEN) last announced 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). The company had revenue of $390.05 million during 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 business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, research analysts forecast that Penumbra, Inc. will post 5.02 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Zacks Research upgraded shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.