Penumbra, Inc. $PEN is HBK Investments L P’s 3rd Largest Position

HBK Investments L P raised its stake in Penumbra, Inc. (NYSE:PEN) by 12.5% during the second quarter, HoldingsChannel.com reports. The fund owned 1,838,508 shares of the company’s stock after purchasing an additional 204,247 shares during the quarter. Penumbra comprises approximately 5.6% of HBK Investments L P’s holdings, making the stock its 3rd biggest position. HBK Investments L P’s holdings in Penumbra were worth $580,509,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PEN. BlackRock Inc. bought a new position in shares of Penumbra in the 2nd quarter valued at about $1,356,953,000. Whitebox Advisors LLC purchased a new position in Penumbra in the first quarter worth about $146,125,000. Artisan Partners Limited Partnership increased its stake in Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after acquiring an additional 370,636 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Penumbra during the fourth quarter worth approximately $107,567,000. Finally, Bank of America Corp DE purchased a new stake in Penumbra during the second quarter valued at approximately $83,995,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

PEN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Evercore reissued an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $367.07.

Penumbra Trading Up 0.1%

NYSE:PEN traded up $0.41 during mid-day trading on Wednesday, hitting $318.84. 816,973 shares of the stock traded hands, compared to its average volume of 620,473. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 78.34, a PEG ratio of 2.20 and a beta of 0.70. The firm’s 50 day moving average is $321.53 and its two-hundred day moving average is $325.17.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Penumbra, Inc. will post 4.96 earnings per share for the current year.

Penumbra Profile

Penumbra, Inc (NYSE:PEN) is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.