Van ECK Associates Corp Decreases Stake in Penumbra, Inc. $PEN

Van ECK Associates Corp reduced its position in Penumbra, Inc. (NYSE:PEN) by 58.2% during the second quarter, HoldingsChannel reports. The fund owned 2,073 shares of the company’s stock after selling 2,889 shares during the quarter. Van ECK Associates Corp’s holdings in Penumbra were worth $655,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. New York Life Investment Management LLC purchased a new stake in shares of Penumbra during the 4th quarter valued at approximately $999,000. Stephens Investment Management Group LLC purchased a new position in Penumbra in the 4th quarter valued at approximately $37,563,000. Simplify Asset Management Inc. grew its stake in Penumbra by 89.7% in the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock valued at $4,921,000 after buying an additional 7,485 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in Penumbra during the 4th quarter valued at $2,091,000. Finally, Sculptor Capital LP bought a new stake in Penumbra during the 1st quarter valued at $18,717,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Trading Up 0.4%

Penumbra stock opened at $322.28 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock has a market cap of $12.69 billion, a P/E ratio of 79.18, a PEG ratio of 2.21 and a beta of 0.70. The firm’s fifty day moving average price is $321.25 and its 200-day moving average price is $326.29.

Penumbra (NYSE:PEN) last posted its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.Penumbra’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Equities research analysts forecast that Penumbra, Inc. will post 4.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Penumbra has a consensus rating of “Hold” and an average price target of $367.07.

Penumbra 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.