12,877 Shares in Penumbra, Inc. $PEN Acquired by ABC Arbitrage SA

ABC Arbitrage SA acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,877 shares of the company's stock, valued at approximately $4,228,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PEN. Larson Financial Group LLC lifted its position in Penumbra by 4,100.0% in the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company's stock valued at $26,000 after buying an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock valued at $26,000 after acquiring an additional 81 shares during the period. Motiv8 Investments LLC acquired a new position in shares of Penumbra in the 4th quarter worth approximately $27,000. Morse Asset Management Inc purchased a new position in shares of Penumbra during the 4th quarter worth approximately $39,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after purchasing an additional 38 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEN shares. Zacks Research cut Penumbra from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Evercore reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a research 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 note on Thursday, June 11th. Wall Street Zen raised shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Finally, Citigroup cut their target price on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $360.33.

Penumbra Stock Up 0.2%

PEN stock opened at $318.61 on Tuesday. The stock has a market cap of $12.53 billion, a P/E ratio of 73.41, a PEG ratio of 1.97 and a beta of 0.70. 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 twelve month low of $221.26 and a twelve month high of $362.41. The company's 50 day moving average is $320.42 and its two-hundred day moving average is $329.78.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.24). The firm had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Research analysts expect that Penumbra, Inc. will post 5.04 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.

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