Dorsey Wright & Associates Invests $1.16 Million in Penumbra, Inc. $PEN

Dorsey Wright & Associates purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,523 shares of the company’s stock, valued at approximately $1,157,000.

Several other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Penumbra by 35.8% during 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after acquiring an additional 184 shares during the period. Cerity Partners LLC increased its position in Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after acquiring an additional 1,829 shares during the period. California Public Employees Retirement System raised its stake in Penumbra by 7.9% in the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after purchasing an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Penumbra in the 2nd quarter worth about $1,137,000. 88.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Penumbra Stock Performance

NYSE:PEN opened at $318.51 on Friday. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $319.94 and its 200 day simple moving average is $329.73. The firm has a market capitalization of $12.53 billion, a PE ratio of 73.39, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 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 analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. On average, analysts anticipate that Penumbra, Inc. will post 5.04 EPS 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.