Carlson Capital L.P. Makes New Investment in Penumbra, Inc. $PEN

Carlson Capital L.P. purchased a new stake in Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,600 shares of the company’s stock, valued at approximately $854,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PEN. Royal Bank of Canada raised its position 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 purchasing an additional 5,092 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after purchasing an additional 184 shares during the last quarter. Cerity Partners LLC boosted 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 valued at $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System boosted its position 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 period. Finally, Daiwa Securities Group Inc. purchased a new position in Penumbra in the 2nd quarter worth about $1,137,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Evercore restated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Finally, Citigroup reduced their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Penumbra has a consensus rating of “Hold” and a consensus price target of $367.07.

Penumbra Price Performance

Shares of NYSE:PEN opened at $321.40 on Friday. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The business has a fifty day simple moving average of $318.75 and a 200 day simple moving average of $330.03. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 78.97, a P/E/G ratio of 1.98 and a beta of 0.70.

Penumbra (NYSE:PEN) last issued its earnings results on Monday, August 3rd. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.70%. The firm had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. During the same quarter last year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that Penumbra, Inc. will post 5.02 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.