Hsbc Holdings PLC Makes New Investment in Penumbra, Inc. $PEN

Hsbc Holdings PLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 101,245 shares of the company’s stock, valued at approximately $31,951,000. Hsbc Holdings PLC owned 0.26% of Penumbra as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC grew its position in shares of Penumbra by 27.1% during the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after purchasing an additional 38 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Penumbra by 2.3% in the 4th quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock worth $537,000 after purchasing an additional 39 shares in the last quarter. Keybank National Association OH boosted its stake in Penumbra by 1.2% in the 4th quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock worth $1,152,000 after purchasing an additional 43 shares during the period. UMB Bank n.a. boosted its stake in Penumbra by 11.3% in the 4th quarter. UMB Bank n.a. now owns 442 shares of the company’s stock worth $137,000 after purchasing an additional 45 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Penumbra by 6.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 843 shares of the company’s stock worth $262,000 after purchasing an additional 48 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.5%

Shares of PEN opened at $321.51 on Friday. 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 stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 78.99, a price-to-earnings-growth ratio of 2.00 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 business’s 50 day simple moving average is $320.62 and its 200-day simple moving average is $326.90.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The business had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. As a group, equities analysts expect that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEN. Evercore reiterated an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 target price 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 report on Monday. Finally, Citigroup decreased their price target 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. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.