Jupiter Topco LLC Purchases New Holdings in Penumbra, Inc. $PEN

Jupiter Topco LLC purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 130,275 shares of the company’s stock, valued at approximately $41,133,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York Life Investment Management LLC acquired a new stake in Penumbra in the fourth quarter valued at $999,000. Stephens Investment Management Group LLC bought a new stake in shares of Penumbra in the 4th quarter valued at about $37,563,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Penumbra in the 4th quarter valued at about $2,091,000. Simplify Asset Management Inc. lifted its stake in Penumbra by 89.7% in the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock valued at $4,921,000 after purchasing an additional 7,485 shares during the last quarter. Finally, Sculptor Capital LP acquired a new stake in Penumbra in the 1st quarter valued at about $18,717,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEN. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $367.07.

Penumbra Stock Down 0.5%

Shares of PEN opened at $321.51 on Friday. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The firm has a market cap of $12.66 billion, a P/E ratio of 78.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.70. The firm’s 50-day simple moving average is $320.62 and its 200 day simple moving average is $326.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same quarter last year, the business earned $0.86 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, 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.