SummitTX Capital L.P. Buys New Position in Penumbra, Inc. $PEN

SummitTX Capital L.P. bought a new stake in Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,022 shares of the company’s stock, valued at approximately $9,202,000.

A number of other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of Penumbra in the fourth quarter worth $27,000. Morse Asset Management Inc acquired a new position in Penumbra during the fourth quarter worth $39,000. Finally, Farther Finance Advisors LLC boosted its holdings in Penumbra by 27.1% during the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Down 0.0%

Shares of PEN stock opened at $318.60 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The firm’s 50-day moving average is $319.45 and its 200-day moving average is $330.02. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 1.98 and a beta of 0.70. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (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 firm had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts predict that Penumbra, Inc. will post 5.02 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on PEN shares. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Citigroup decreased their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Evercore reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $360.33.

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.