36,340 Shares in Penumbra, Inc. $PEN Purchased by Boussard & Gavaudan Gestion Sas

Key Points

• Boussard & Gavaudan Gestion Sas acquired 36,340 Penumbra shares worth approximately $11.46 million during the second quarter, giving it a 0.09% stake. Institutional investors collectively own 88.88% of the company.
• Analysts maintain a generally cautious view: Penumbra has a consensus “Hold” rating from MarketBeat, with an average price target of $367.07 versus the reported share price of $321.58.
• Penumbra’s latest quarterly revenue rose 14.9% year over year to $390.05 million, slightly exceeding estimates, but earnings per share of $0.88 missed the $1.16 consensus forecast.

Boussard & Gavaudan Gestion Sas acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,340 shares of the company's stock, valued at approximately $11,462,000. Penumbra accounts for about 0.6% of Boussard & Gavaudan Gestion Sas' holdings, making the stock its 23rd largest position. Boussard & Gavaudan Gestion Sas owned approximately 0.09% of Penumbra at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Penumbra by 35.8% during the first quarter. Royal Bank of Canada now owns 19,332 shares of the company's stock worth $5,169,000 after acquiring an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock valued at $70,000 after purchasing an additional 184 shares during the period. Cerity Partners LLC lifted its position in Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company's stock valued at $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System boosted its holdings in Penumbra by 7.9% in the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company's stock valued at $15,661,000 after purchasing an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Penumbra in the 2nd quarter valued at approximately $1,137,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Ratings Changes

PEN has been the subject of a number of recent analyst reports. Evercore reissued an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Wall Street Zen raised shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Citigroup lowered their price target 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. Royal Bank Of Canada reissued a "sector perform" rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Finally, Zacks Research raised shares of Penumbra from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $367.07.

Penumbra Stock Up 0.2%

NYSE:PEN opened at $321.58 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 79.01, a price-to-earnings-growth ratio of 1.99 and a beta of 0.70. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock has a 50-day simple moving average of $320.71 and a 200 day simple moving average of $326.86.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results 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 business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same period last year, the company posted $0.86 earnings per share. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts predict that Penumbra, Inc. will post 5.02 EPS 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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