Diversify Wealth Management LLC Buys 3,467 Shares of Penumbra, Inc. $PEN

Diversify Wealth Management LLC grew its position in Penumbra, Inc. (NYSE:PEN) by 72.0% in the first quarter, Holdings Channel reports. The fund owned 8,283 shares of the company’s stock after acquiring an additional 3,467 shares during the quarter. Diversify Wealth Management LLC’s holdings in Penumbra were worth $2,691,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake 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 acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Penumbra by 22.3% in the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System boosted 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 purchasing an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Penumbra during the second quarter worth $1,137,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Penumbra Stock Up 0.2%

Shares of NYSE:PEN opened at $318.61 on Tuesday. The business’s 50 day moving average is $320.42 and its 200 day moving average is $329.78. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 1.97 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 (NYSE:PEN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). The firm had revenue of $374.76 million during 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 company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. On average, sell-side analysts forecast that Penumbra, Inc. will post 5.04 earnings per share for the current fiscal 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.