Renaissance Technologies LLC Acquires New Stake in Penumbra, Inc. $PEN

Renaissance Technologies LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,160 shares of the company’s stock, valued at approximately $709,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. 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 acquiring an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake 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 valued at $26,000 after purchasing an additional 81 shares during the period. Motiv8 Investments LLC purchased a new position in shares of Penumbra in the fourth quarter valued at approximately $27,000. Morse Asset Management Inc acquired a new position in shares of Penumbra in the fourth quarter valued at approximately $39,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after purchasing an additional 38 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Penumbra Stock Down 0.0%

Shares of Penumbra stock opened at $326.91 on Monday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a 50 day moving average of $319.53 and a 200 day moving average of $328.64. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $12.88 billion, a P/E ratio of 80.32, a P/E/G ratio of 2.03 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 EPS 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 analysts’ expectations of $389.64 million. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts forecast that Penumbra, Inc. will post 5.02 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.