Renaissance Technologies LLC Takes $709,000 Position in Penumbra, Inc. $PEN

Renaissance Technologies LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the 1st quarter, Holdings Channel reports. The institutional investor bought 2,160 shares of the company’s stock, valued at approximately $709,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after purchasing an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Penumbra by 209.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after buying an additional 184 shares during the last quarter. Cerity Partners LLC grew its position in shares of Penumbra by 22.3% in the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after buying an additional 1,829 shares during the last quarter. California Public Employees Retirement System raised its stake in Penumbra by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after acquiring an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Penumbra during the 2nd quarter worth $1,137,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.0%

PEN stock opened at $326.91 on Monday. The company has a market cap of $12.88 billion, a price-to-earnings ratio of 80.32, a price-to-earnings-growth ratio of 2.03 and a beta of 0.70. The company has a fifty day moving average price of $319.53 and a 200 day moving average price of $328.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month 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 (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. Sell-side analysts expect that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PEN shares. Evercore restated an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Finally, Zacks Research downgraded Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.