The Manufacturers Life Insurance Company Invests $6.32 Million in Penumbra, Inc. $PEN

The Manufacturers Life Insurance Company bought a new position in Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, Holdings Channel reports. The fund bought 20,027 shares of the company’s stock, valued at approximately $6,324,000.

Other hedge funds also recently bought and sold shares of the company. New York Life Investment Management LLC purchased a new stake in Penumbra in the fourth quarter worth $999,000. Stephens Investment Management Group LLC purchased a new position in Penumbra during the 4th quarter valued at $37,563,000. Simplify Asset Management Inc. increased its position in Penumbra by 89.7% during the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock valued at $4,921,000 after purchasing an additional 7,485 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in Penumbra in the 4th quarter worth $2,091,000. Finally, Sculptor Capital LP purchased a new stake in shares of Penumbra in the 1st quarter worth about $18,717,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.0%

NYSE:PEN opened at $321.58 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The firm’s 50-day moving average price is $320.71 and its 200-day moving average price is $326.78. The company has a market capitalization of $12.67 billion, a PE ratio of 79.01, a P/E/G 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.

Penumbra (NYSE:PEN) last issued 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 net margin of 10.67% and a return on equity of 10.50%. The business had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. During the same period last year, the business earned $0.86 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts predict that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEN. Citigroup cut their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Zacks Research upgraded 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 price objective on shares of Penumbra in a research report on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Finally, Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penumbra currently has an average rating of “Hold” and a consensus 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.