Two Sigma Securities LLC Buys Shares of 2,709 Penumbra, Inc. $PEN

Two Sigma Securities LLC bought a new position in Penumbra, Inc. (NYSE:PEN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,709 shares of the company’s stock, valued at approximately $855,000.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Penumbra during the second quarter worth $1,356,953,000. Whitebox Advisors LLC acquired a new position in Penumbra during the 1st quarter valued at about $146,125,000. Artisan Partners Limited Partnership increased its position in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after buying an additional 370,636 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Penumbra in the fourth quarter valued at about $107,567,000. Finally, Bank of America Corp DE acquired a new stake in Penumbra in the second quarter worth about $83,995,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Trading Down 0.1%

Shares of NYSE:PEN opened at $322.80 on Wednesday. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The business has a 50 day moving average of $320.94 and a two-hundred day moving average of $326.55. The company has a market capitalization of $12.72 billion, a PE ratio of 79.31, a PEG ratio of 2.03 and a beta of 0.70.

Penumbra (NYSE:PEN) last released its quarterly earnings data 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 firm had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. As a group, analysts forecast that Penumbra, Inc. will post 4.96 EPS for the current year.

Wall Street Analyst Weigh In

PEN has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Evercore reissued an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Finally, Citigroup cut their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Penumbra currently has an average rating of “Hold” and a consensus 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.