11,740 Shares in Penumbra, Inc. $PEN Acquired by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 11,740 Penumbra shares worth approximately $3.7 million during the second quarter. Institutional investors and hedge funds own 88.88% of the company.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year and slightly above estimates, but earnings per share of $0.88 missed the $1.16 consensus forecast.
• Analysts maintain a generally cautious outlook, with three Buy ratings and fourteen Hold ratings. The stock’s consensus price target is $367.07 versus a recent share price of $321.58.

Canada Pension Plan Investment Board acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,740 shares of the company's stock, valued at approximately $3,707,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its holdings in shares of Penumbra by 2.3% during the 4th quarter. Hsbc Holdings PLC now owns 1,527 shares of the company's stock worth $475,000 after purchasing an additional 35 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock valued at $55,000 after purchasing an additional 38 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in Penumbra by 2.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company's stock valued at $537,000 after purchasing an additional 39 shares in the last quarter. Keybank National Association OH raised its stake in Penumbra by 1.2% in the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company's stock valued at $1,152,000 after purchasing an additional 43 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Penumbra by 11.3% during the fourth quarter. UMB Bank n.a. now owns 442 shares of the company's stock worth $137,000 after purchasing an additional 45 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Down 0.0%

Shares of PEN opened at $321.58 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. 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 $12.67 billion, a price-to-earnings ratio of 79.01, a PEG ratio of 1.99 and a beta of 0.70. The stock has a fifty day moving average of $320.71 and a 200-day moving average of $326.78.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $389.64 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The company's revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PEN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research note on Friday, July 17th. Evercore reaffirmed an "outperform" rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Zacks Research upgraded Penumbra from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Finally, Wall Street Zen upgraded Penumbra to a "hold" rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $367.07.

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.

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