Quantbot Technologies LP Acquires Shares of 1,999 Penumbra, Inc. $PEN

Quantbot Technologies LP bought a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,999 shares of the company’s stock, valued at approximately $631,000.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Penumbra during the 2nd quarter worth $25,000. Larson Financial Group LLC boosted its stake in Penumbra by 4,100.0% in the fourth 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 grew its position in Penumbra by 2,700.0% in the fourth 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 Penumbra in the fourth quarter valued at about $27,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in Penumbra during the second quarter worth about $31,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

NYSE:PEN opened at $321.51 on Friday. The stock has a market cap of $12.66 billion, a P/E ratio of 78.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.70. 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 is $320.62 and its 200-day moving average is $326.90. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. During the same quarter last year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEN. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Evercore reiterated an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, Penumbra presently has an average rating of “Hold” and a consensus target price 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.