Ieq Capital LLC Takes Position in Penumbra, Inc. $PEN

Ieq Capital LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,011 shares of the company’s stock, valued at approximately $635,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after purchasing an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after purchasing an additional 1,829 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Penumbra by 7.9% during the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock valued at $15,661,000 after purchasing an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Penumbra during the second quarter valued at $1,137,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEN has been the subject of several research analyst reports. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Finally, Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $367.07.

Penumbra Stock Up 0.2%

PEN stock opened at $321.58 on Friday. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 79.01, a P/E/G ratio of 1.99 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The business’s 50-day moving average is $320.71 and its two-hundred day moving average is $326.86. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (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 for the quarter, compared to the consensus estimate of $389.64 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current year.

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.