235,328 Shares in Penumbra, Inc. $PEN Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 235,328 Penumbra shares worth approximately $74.3 million, giving it a 0.60% stake. Institutional investors and hedge funds collectively own 88.88% of the company.
• Penumbra shares opened at $324.61, while the company’s latest quarterly results showed revenue rising 14.9% year over year to $390.05 million, though adjusted earnings of $0.88 per share missed estimates by $0.28.
• Analysts maintain a consensus “Hold” rating, with three Buy ratings, thirteen Holds and one Sell; the average price target is $367.07.

Bank of New York Mellon Corp bought a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 235,328 shares of the company's stock, valued at approximately $74,305,000. Bank of New York Mellon Corp owned 0.60% of Penumbra as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in shares of 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 acquiring an additional 82 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new position in Penumbra during the fourth quarter worth $27,000. Morse Asset Management Inc bought a new position in Penumbra during the fourth quarter worth $39,000. Finally, Farther Finance Advisors LLC raised its stake in Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock valued at $55,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Up 0.3%

PEN opened at $324.61 on Wednesday. The company has a market capitalization of $12.79 billion, a P/E ratio of 79.76, a P/E/G ratio of 2.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The firm's fifty day moving average price is $320.38 and its two-hundred day moving average price is $327.16. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. On average, analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore reissued an "outperform" rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Citigroup dropped their price objective on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Wall Street Zen raised Penumbra to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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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