Trillium Asset Management LLC Makes New Investment in Penumbra, Inc. $PEN

Trillium Asset Management LLC bought a new stake in Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,857 shares of the company’s stock, valued at approximately $5,639,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Penumbra during the 2nd quarter worth approximately $25,000. Larson Financial Group LLC grew its position in shares of 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 shares of 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 stake in Penumbra during the 4th quarter worth $27,000. Finally, Morse Asset Management Inc acquired a new stake in Penumbra during the 4th quarter worth $39,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.8%

PEN stock opened at $324.19 on Friday. The company has a fifty day moving average price of $320.01 and a 200 day moving average price of $327.72. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 79.65, a price-to-earnings-growth ratio of 2.03 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86.

Penumbra (NYSE:PEN) last issued 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). The business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Sell-side analysts expect that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Analyst Ratings Changes

PEN has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup cut their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Zacks Research downgraded Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.