Virtu Financial LLC Acquires New Shares in Penumbra, Inc. $PEN

Virtu Financial LLC acquired a new position in Penumbra, Inc. (NYSE:PEN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,880 shares of the company’s stock, valued at approximately $895,000.

Several other hedge funds have also recently bought and sold shares of PEN. Royal Bank of Canada lifted its position in shares of Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after buying an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after acquiring an additional 184 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Penumbra by 22.3% during the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after acquiring an additional 1,829 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Penumbra by 7.9% in the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock valued at $15,661,000 after acquiring an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Penumbra in the 2nd quarter valued at approximately $1,137,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of NYSE:PEN opened at $316.88 on Monday. The business has a 50 day moving average price of $324.39 and a 200 day moving average price of $328.32. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 73.01, a PEG ratio of 1.94 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. Research analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current year.

Insider Activity

In related news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Citigroup dropped their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. UBS Group restated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Evercore reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, Penumbra has a consensus rating of “Hold” and an average price target of $361.33.

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.