Polar Asset Management Partners Inc. Takes Position in Penumbra, Inc. $PEN

Polar Asset Management Partners Inc. purchased a new position in Penumbra, Inc. (NYSE:PEN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,000 shares of the company’s stock, valued at approximately $2,299,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEN. Larson Financial Group LLC lifted its holdings in shares of Penumbra by 4,100.0% in the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Penumbra by 2,700.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Motiv8 Investments LLC bought a new stake in Penumbra in the 4th quarter valued at $27,000. Morse Asset Management Inc bought a new stake in Penumbra in the 4th quarter valued at $39,000. Finally, Farther Finance Advisors LLC lifted its stake in 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 purchasing an additional 38 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Performance

Penumbra stock opened at $319.46 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The firm has a market capitalization of $12.56 billion, a P/E ratio of 73.61, a price-to-earnings-growth ratio of 1.98 and a beta of 0.70. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company’s 50-day moving average is $319.32 and its 200 day moving average is $330.05.

Penumbra (NYSE:PEN) last announced its 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). The business had revenue of $374.76 million for the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. Research analysts forecast that Penumbra, Inc. will post 5.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PEN shares. Zacks Research lowered Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Citigroup decreased their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Evercore reiterated an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Finally, 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. 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 stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Hold” and an average target price of $360.33.

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.