26,200 Shares in Penumbra, Inc. $PEN Acquired by P Schoenfeld Asset Management LP

Key Points

• P Schoenfeld Asset Management acquired 26,200 Penumbra shares during the second quarter, giving it approximately 0.07% ownership and making Penumbra its 10th-largest holding. Institutional investors collectively own 88.88% of the stock.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with three Buy, 13 Hold, and one Sell rating and an average price target of $367.07.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year, but earnings per share of $0.88 missed the $1.16 consensus estimate. Shares opened at $325.14, with a market capitalization of approximately $12.81 billion.

P Schoenfeld Asset Management LP acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 26,200 shares of the company's stock, valued at approximately $8,272,650,000. Penumbra comprises 3.4% of P Schoenfeld Asset Management LP's holdings, making the stock its 10th biggest holding. P Schoenfeld Asset Management LP owned about 0.07% of Penumbra at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEN. BlackRock Inc. bought a new position in shares of Penumbra during the second quarter valued at $1,356,953,000. Geode Capital Management LLC boosted its stake in Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company's stock worth $238,365,000 after purchasing an additional 18,738 shares in the last quarter. Invesco Ltd. boosted its stake in Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company's stock worth $198,455,000 after purchasing an additional 7,211 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock valued at $184,715,000 after purchasing an additional 370,636 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Penumbra by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company's stock valued at $147,962,000 after purchasing an additional 7,050 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Penumbra Stock Down 0.0%

PEN opened at $325.14 on Monday. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 2.02 and a beta of 0.70. The firm has a 50 day moving average price of $320.14 and a 200-day moving average price of $327.50. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01.

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

Penumbra Company 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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