Cannon Global Investment Management LLC Takes Position in Penumbra, Inc. $PEN

Cannon Global Investment Management LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,600 shares of the company’s stock, valued at approximately $525,000.

A number of other large investors also recently bought and sold shares of the business. Artisan Partners Limited Partnership lifted its holdings in Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after buying an additional 370,636 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Penumbra during the 4th quarter worth $107,567,000. Holocene Advisors LP purchased a new stake in shares of Penumbra during the 3rd quarter worth $78,585,000. Man Group plc boosted its position in Penumbra by 1,862.2% during the second quarter. Man Group plc now owns 206,461 shares of the company’s stock valued at $52,984,000 after purchasing an additional 195,939 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Penumbra by 139.4% during the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after purchasing an additional 192,734 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

PEN opened at $316.94 on Friday. The company has a market cap of $12.47 billion, a P/E ratio of 73.03, a price-to-earnings-growth ratio of 1.96 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $323.00 and its 200-day moving average price is $328.94. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. As a group, equities analysts anticipate that Penumbra, Inc. will post 5.04 EPS for the current fiscal year.

Analyst Ratings Changes

PEN has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup lowered their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Hold” and an average price target of $361.33.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

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.