Empyrean Capital Partners LP Purchases Shares of 85,000 Penumbra, Inc. $PEN

Empyrean Capital Partners LP purchased a new position in Penumbra, Inc. (NYSE:PEN) in the first quarter, HoldingsChannel reports. The firm purchased 85,000 shares of the company’s stock, valued at approximately $27,911,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 81 shares during the period. Motiv8 Investments LLC bought a new position in Penumbra in the 4th quarter worth $27,000. Morse Asset Management Inc purchased a new stake in Penumbra in the 4th quarter worth $39,000. Finally, Farther Finance Advisors LLC increased 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 buying an additional 38 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Trading Up 0.2%

Shares of NYSE PEN opened at $319.46 on Tuesday. 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. The business’s 50 day moving average is $319.32 and its two-hundred day moving average is $330.05. The stock has a market capitalization of $12.56 billion, a P/E ratio of 73.61, a PEG ratio of 1.98 and a beta of 0.70.

Penumbra (NYSE:PEN) last posted its quarterly earnings data 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 company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 earnings per share. As a group, research analysts expect that Penumbra, Inc. will post 5.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEN shares. Wall Street Zen raised Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note 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. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.