Diversify Advisory Services LLC Makes New Investment in Penumbra, Inc. $PEN

Diversify Advisory Services LLC acquired a new stake in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,480 shares of the company’s stock, valued at approximately $792,000.

A number of other large investors also recently modified their holdings of PEN. Citizens Financial Group Inc. RI bought a new stake in shares of Penumbra during the second quarter valued at approximately $9,879,000. BlackRock Inc. acquired a new stake in shares of Penumbra in the second quarter valued at approximately $1,356,953,000. Deutsche Bank AG bought a new position in Penumbra in the 2nd quarter worth approximately $1,336,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Penumbra in the 2nd quarter worth approximately $25,000. Finally, Longfellow Investment Management Co. LLC bought a new position in Penumbra in the 2nd quarter worth approximately $74,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Citigroup decreased their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $367.07.

Penumbra Price Performance

Penumbra stock opened at $324.19 on Friday. The firm has a market capitalization of $12.77 billion, a P/E ratio of 79.65, a PEG ratio of 2.03 and a beta of 0.70. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The business has a 50-day moving average of $320.01 and a 200-day moving average of $327.72. 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 (NYSE:PEN) last announced its quarterly earnings results 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). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The firm had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current 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.