26,200 Shares in Penumbra, Inc. $PEN Purchased by P Schoenfeld Asset Management LP

P Schoenfeld Asset Management LP acquired a new position in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 26,200 shares of the company’s stock, valued at approximately $8,272,650. Penumbra accounts for 0.0% of P Schoenfeld Asset Management LP’s holdings, making the stock its 10th biggest position. P Schoenfeld Asset Management LP owned approximately 0.07% of Penumbra at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PEN. Athos Capital Ltd acquired a new stake in shares of Penumbra during the second quarter worth $3,524,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Penumbra during the second quarter worth approximately $1,614,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Penumbra during the 2nd quarter valued at approximately $286,000. Bank of Nova Scotia acquired a new stake in Penumbra in the 2nd quarter valued at approximately $369,000. Finally, Greenland Capital Management LP acquired a new stake in shares of Penumbra during the second quarter valued at approximately $6,236,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.2%

PEN traded up $0.60 during trading on Friday, reaching $321.60. 82,639 shares of the company’s stock were exchanged, compared to its average volume of 641,569. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The company’s fifty day moving average price is $320.62 and its 200-day moving average price is $326.90. The firm has a market capitalization of $12.67 billion, a PE ratio of 79.02, a P/E/G ratio of 2.00 and a beta of 0.70. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week 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 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 business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same quarter in the previous year, the business posted $0.86 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Penumbra, Inc. will post 5.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore restated an “outperform” rating and set a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Zacks Research upgraded shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded 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 issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.