Hsbc Holdings PLC Boosts Holdings in Penumbra, Inc. $PEN

Hsbc Holdings PLC grew its stake in Penumbra, Inc. (NYSE:PEN) by 7,115.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,173 shares of the company’s stock after purchasing an additional 108,646 shares during the quarter. Hsbc Holdings PLC owned approximately 0.28% of Penumbra worth $36,061,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after buying an additional 18,738 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Penumbra by 1.1% during the fourth quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock valued at $198,455,000 after acquiring an additional 7,211 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after acquiring an additional 370,636 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Penumbra by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after acquiring an additional 7,050 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of 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 acquiring an additional 10,724 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

PEN has been the topic of a number of research analyst reports. Citigroup lowered their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Evercore restated an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Friday. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $360.33.

Penumbra Trading Down 0.0%

Shares of Penumbra stock opened at $318.18 on Tuesday. 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 stock’s 50 day simple moving average is $319.87 and its 200-day simple moving average is $329.86. The stock has a market cap of $12.51 billion, a P/E ratio of 73.31, a P/E/G ratio of 1.97 and a beta of 0.70. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same period in the prior year, the business posted $0.83 EPS. Penumbra’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts predict that Penumbra, Inc. will post 5.04 EPS for the current fiscal year.

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.