PSquared Asset Management AG Invests $14.05 Million in Penumbra, Inc. $PEN

PSquared Asset Management AG bought a new position in shares of Penumbra, Inc. (NYSE:PEN) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,785 shares of the company’s stock, valued at approximately $14,049,000. Penumbra accounts for 4.9% of PSquared Asset Management AG’s investment portfolio, making the stock its 9th biggest position.

A number of other hedge funds have also recently bought and sold shares of PEN. Hsbc Holdings PLC increased its stake in Penumbra by 2.3% during the fourth quarter. Hsbc Holdings PLC now owns 1,527 shares of the company’s stock valued at $475,000 after acquiring an additional 35 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after acquiring an additional 38 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of Penumbra by 2.3% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock valued at $537,000 after purchasing an additional 39 shares during the period. Keybank National Association OH increased its position in shares of Penumbra by 1.2% during the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock valued at $1,152,000 after purchasing an additional 43 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Penumbra by 11.3% in the fourth quarter. UMB Bank n.a. now owns 442 shares of the company’s stock valued at $137,000 after purchasing an additional 45 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Price Performance

PEN stock opened at $317.83 on Friday. The company’s 50-day moving average price is $319.53 and its two-hundred day moving average price is $330.00. The firm has a market cap of $12.50 billion, a P/E ratio of 73.23, a P/E/G ratio of 1.96 and a beta of 0.70. 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, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue was up 15.6% on a year-over-year basis. On average, analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Evercore restated an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Finally, Zacks Research downgraded Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $360.33.

About Penumbra

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.