Principal Financial Group Inc. Increases Stock Holdings in Penumbra, Inc. $PEN

Principal Financial Group Inc. boosted its position in Penumbra, Inc. (NYSE:PEN) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 88,178 shares of the company’s stock after buying an additional 4,263 shares during the quarter. Principal Financial Group Inc.’s holdings in Penumbra were worth $28,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEN. Geode Capital Management LLC boosted its position in shares of Penumbra by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after acquiring an additional 18,738 shares during the period. Invesco Ltd. increased its holdings in Penumbra by 1.1% during the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after acquiring an additional 7,211 shares during the period. Artisan Partners Limited Partnership increased its holdings in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after acquiring an additional 370,636 shares during the period. Janus Henderson Group PLC boosted its holdings in Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after purchasing an additional 7,050 shares during the period. Finally, Capital World Investors boosted its holdings in Penumbra by 2.6% in the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock valued at $132,589,000 after purchasing an additional 10,724 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Penumbra Stock Up 0.1%

Shares of NYSE:PEN opened at $318.51 on Monday. The stock has a market capitalization of $12.53 billion, a P/E ratio of 73.39, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. The stock’s 50-day moving average price is $319.94 and its 200-day moving average price is $329.83. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. On average, equities analysts anticipate that Penumbra, Inc. will post 5.04 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.