Credit Industriel ET Commercial Invests $8.48 Million in Penumbra, Inc. $PEN

Credit Industriel ET Commercial purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 25,817 shares of the company’s stock, valued at approximately $8,478,000. Penumbra comprises about 0.7% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Algert Global LLC increased its holdings in shares of Penumbra by 38.8% during the third quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after buying an additional 12,830 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Penumbra during the third quarter valued at about $78,585,000. Braidwell LP grew its holdings in shares of Penumbra by 9.2% during the third quarter. Braidwell LP now owns 141,528 shares of the company’s stock worth $35,852,000 after purchasing an additional 11,900 shares during the last quarter. Integral Health Asset Management LLC increased its stake in shares of Penumbra by 25.0% in the third quarter. Integral Health Asset Management LLC now owns 50,000 shares of the company’s stock valued at $12,666,000 after buying an additional 10,000 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Penumbra by 144.4% in the 4th quarter. SG Americas Securities LLC now owns 11,111 shares of the company’s stock valued at $3,455,000 after buying an additional 6,564 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 0.3%

Shares of NYSE:PEN opened at $319.24 on Tuesday. The company has a market cap of $12.56 billion, a PE ratio of 73.57, a P/E/G ratio of 1.97 and a beta of 0.70. The stock’s 50-day moving average is $321.32 and its 200 day moving average is $329.68. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. During the same period in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts anticipate that Penumbra, Inc. will post 5.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEN shares. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Citigroup dropped their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report 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. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock 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.