Ieq Capital LLC Invests $635,000 in Penumbra, Inc. $PEN

Ieq Capital LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, Holdings Channel reports. The firm bought 2,011 shares of the company’s stock, valued at approximately $635,000.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Penumbra in the second quarter worth about $25,000. Larson Financial Group LLC lifted 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 valued at $26,000 after buying an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Penumbra during the 4th quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Penumbra during the 2nd quarter valued at approximately $31,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.2%

Shares of PEN stock opened at $321.58 on Friday. Penumbra, Inc. has a 12-month low of $221.26 and a 12-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’s 50-day moving average price is $320.71 and its 200-day moving average price is $326.86. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 79.01, a price-to-earnings-growth ratio of 1.99 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The firm had revenue of $390.05 million for 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%. Penumbra’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Equities research analysts predict that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

PEN has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Citigroup dropped their price target on shares of 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 shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Evercore restated an “outperform” rating and set a $320.00 price objective 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 note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $367.07.

Penumbra 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.