Citizens Financial Group Inc. RI Makes New $9.88 Million Investment in Penumbra, Inc. $PEN

Citizens Financial Group Inc. RI bought a new stake in Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 31,286 shares of the company’s stock, valued at approximately $9,879,000.

A number of other institutional investors have also modified their holdings of PEN. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Penumbra during the second quarter worth approximately $25,000. Larson Financial Group LLC grew its position in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Penumbra in the 4th quarter valued at $27,000. Finally, Morse Asset Management Inc purchased a new position in Penumbra during the 4th quarter worth $39,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Down 0.0%

Shares of NYSE PEN opened at $326.86 on Tuesday. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 80.31, a price-to-earnings-growth ratio of 2.03 and a beta of 0.70. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The firm has a 50-day moving average price of $319.66 and a 200 day moving average price of $328.41. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’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 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on PEN shares. Zacks Research cut shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Royal Bank Of Canada restated 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 reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Three 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. 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.