Polar Asset Management Partners Inc. Acquires New Position in Penumbra, Inc. $PEN

Polar Asset Management Partners Inc. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,112 shares of the company’s stock, valued at approximately $1,930,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. BlackRock Inc. purchased a new stake in shares of Penumbra during the 2nd quarter worth approximately $1,356,953,000. Whitebox Advisors LLC purchased a new position in shares of Penumbra during the 1st quarter worth approximately $146,125,000. Artisan Partners Limited Partnership increased its position 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 buying an additional 370,636 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Penumbra during the 4th quarter worth about $107,567,000. Finally, Amundi raised its position in shares of Penumbra by 302.9% in the first quarter. Amundi now owns 345,758 shares of the company’s stock valued at $113,537,000 after buying an additional 259,936 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Trading Down 0.3%

PEN opened at $323.36 on Thursday. The stock has a market capitalization of $12.74 billion, a PE ratio of 79.45, a P/E/G ratio of 2.01 and a beta of 0.70. The firm’s fifty day moving average price is $320.53 and its 200 day moving average price is $327.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.Penumbra’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, research analysts expect that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analysts Set New Price Targets

PEN has been the subject of several analyst reports. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday. Evercore reissued an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Finally, Citigroup decreased their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $367.07.

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.