DLD Asset Management LP Makes New $2.37 Million Investment in Penumbra, Inc. $PEN

DLD Asset Management LP purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) during the first quarter, HoldingsChannel.com reports. The fund purchased 7,230 shares of the company’s stock, valued at approximately $2,374,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock worth $238,365,000 after purchasing an additional 18,738 shares in the last quarter. Invesco Ltd. grew its stake in Penumbra by 1.1% during the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after buying an additional 7,211 shares during the last quarter. 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. Janus Henderson Group PLC increased its position in Penumbra by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after buying an additional 7,050 shares in the last quarter. Finally, Capital World Investors raised its stake in Penumbra by 2.6% in the fourth quarter. Capital World Investors now owns 426,456 shares of the company’s stock valued at $132,589,000 after buying an additional 10,724 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent analyst reports. Citigroup lowered their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Weiss Ratings reaffirmed 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 issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Finally, Evercore reiterated an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Penumbra has an average rating of “Hold” and a consensus price target of $360.33.

Penumbra Stock Performance

Shares of PEN stock opened at $316.58 on Thursday. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 72.94, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The business has a fifty day moving average of $319.64 and a 200 day moving average of $329.94. 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 results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The firm had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. As a group, research analysts expect that Penumbra, Inc. will post 5.02 earnings per share for the current year.

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.