Legal & General Group Plc Buys New Stake in Penumbra, Inc. $PEN

Legal & General Group Plc purchased a new position in Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,912 shares of the company’s stock, valued at approximately $20,496,000. Legal & General Group Plc owned about 0.16% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

PEN has been the topic of a number of recent research reports. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reissued an “outperform” rating and set a $320.00 target price 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 report on Friday, July 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Finally, Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $367.07.

Penumbra Price Performance

PEN opened at $321.58 on Friday. The business has a fifty day moving average of $320.71 and a 200 day moving average of $326.86. The stock has a market cap of $12.67 billion, a P/E ratio of 79.01, a PEG ratio of 1.99 and a beta of 0.70. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. 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 Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current year.

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.